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Reduced pension plus gratuity and commuted full pension gratuity

Singapore Armed Forces (Pensions) Regulations

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—(1) The reduced pension and gratuity referred to in regulation 26(1)(a)(ii) payable to a member shall be —(a)a reduced pension proportionate to the sum of his annual pension less ths of the gratuity specified in sub- paragraph (b); and(b)a gratuity equal to ths of his one year’s pensionable emoluments in respect of each complete month of pensionable service subject to a maximum of his pensionable emoluments for 3 years.(2) The commuted full pension gratuity referred to in regulation 26(1)(a)(iii) and (b)(ii) payable to a member shall be —(a)a capital sum ascertained by multiplying the commutation factor by the amount of the monthly full pension that may be granted to the member under regulation 23; or(b)in the case of a member retiring on the ground referred to in regulation 22(d) or (g), a capital sum ascertained in accordance with sub-paragraph (a), from which sum there shall be a discount at the relevant discount rate in respect of each year or part thereof falling between —(i)the date on which he will attain the minimum age; and(ii)the date on which the commuted full pension gratuity is to be paid to him.(3) For the purposes of this regulation —“commutation factor” means 175.14;“discount rate” means 5 per cent;“relevant commutation factor” and “relevant discount rate”, in relation to a member, mean the commutation factor and discount rate specified in this paragraph as in force on either the date of the member’s retirement from the Singapore Armed Forces (or the date of the member’s death, as the case may be) or his enlistment into the Singapore Armed Forces, whichever is the more favourable; and for this purpose, all members enlisted into the Singapore Armed Forces before 1st January 1995 shall be deemed to be enlisted into the Singapore Armed Forces on that date.

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