46. Vesting rates for converting members’ Retirement Accounts

Subject to regulation 17(2) and (3), where a serviceman exercising an option to convert under regulation 42 retires or is required to retire on any of the grounds specified in regulation 12 or he resigns from the Singapore Armed Forces, the Board may, on the application of the person eligible under regulation 18, authorise the payment to the applicant of —

the moneys referred to in regulation 17(1)(a); and

such portion of the moneys in the member’s Retirement Account as is prescribed in the Sixth Schedule as vested in relation to the member’s age at the date of his retirement or resignation, as the case may be.