Singapore legislation
Regulation 52
Regulation 52
Preserved benefits for former military expert formerly on Premium Plan
Subregulation 1
This regulation applies in relation to a serviceman who —
opted to be transferred to the military domain experts service under regulation 37(1) of the MDES Regulations; and
subsequently opts to convert to the SAVER Plan under regulation 49.
Subregulation 2
All contributions standing to the credit of the serviceman’s CPF Top-Up Account under regulation 12(1)(a) of the Singapore Armed Forces (Premium Plan) Regulations before the date of his transfer to the military domain experts service must be transferred to the serviceman’s CPF Top-Up Account under the SAVER Plan on the date that he becomes a member of the SAVER Plan.
Subregulation 3
All contributions standing to the credit of the serviceman’s CARE Account under regulation 12(1)(b), (ba), (c) or (ca) or 18A(1)(a) or (b) of the Singapore Armed Forces (Premium Plan) Regulations before the date of his transfer to the military domain experts service, must be transferred to the serviceman’s Retirement Account or SAVER Account (as the case may be) under the SAVER Plan on the date that he becomes a member of the SAVER Plan.
Subregulation 4
Any CARE Initial Quantum and other contributions standing to the credit of the serviceman’s CARE Account under regulation 37(3) of the MDES Regulations before the date of the serviceman’s conversion to the SAVER Plan must be transferred to the serviceman’s Retirement Account or SAVER Account (as the case may be) under the SAVER Plan.
Subregulation 5
All dividends credited to the serviceman’s accounts in the SAVER-Premium Fund under regulation 37(4) of the MDES Regulations before the date of the serviceman’s conversion to the SAVER Plan, must be transferred to the following accounts of the serviceman on that date:
where the dividends were credited into the CPF Top-Up Account of the serviceman under the Premium Plan — to the serviceman’s CPF Top-Up Account under the SAVER Plan; (b)where the dividends were credited into the CARE Account of the serviceman under the Premium Plan — to the serviceman’s Retirement Account or SAVER Account (as the case may be) under the SAVER Plan.
Subregulation 6
Any post-retirement benefits granted to the serviceman under regulation 37(17) of the MDES Regulations may continue to be granted to the serviceman after he becomes a member of the SAVER Plan.