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Members of PSE Fund

Education Endowment and Savings Schemes (Post-secondary Education Scheme) Regulations

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—(1) A person who is born before 1st January 2006 shall become a member of the PSE Fund by virtue of section 16B of the Act if, in addition to being a citizen of Singapore —(a)he is eligible for the co-savings arrangement and, as at 31st December in the year in which the sixth anniversary of his date of birth falls —(i)no Child Development Account has been opened for him; or(ii)the aggregate amount of all co-payment contributions by the Government to his Child Development Account under regulation 6(2) of the Child Development Co-Savings Regulations (Cap. 38A, Rg 2) has not reached the maximum payable under regulation 6(3) of those Regulations;(aa)immediately before 1st January in the year in which the seventh anniversary of his date of birth falls, there are moneys standing to his credit in his Child Development Account which are liable to be transferred under regulation 10(2)(a) of the Child Development Co-Savings Regulations; (b)there is a sum standing to his credit in his Edusave account which is liable to be transferred under section 13(1) of the Act, or section 13(2) or (3) of the Act as in force immediately before 10 November 2014; or(c)he is eligible for any cash grant referred to in section 16A(1)(e) of the Act.(2) A person who is born on or after 1st January 2006 shall become a member of the PSE Fund by virtue of section 16B of the Act if, in addition to being a citizen of Singapore —(a)he is eligible for the co-savings arrangement and, as at 31st December in the year in which the twelfth anniversary of his date of birth falls —(i)no Child Development Account has been opened for him; or(ii)the aggregate amount of all co-payment contributions by the Government to his Child Development Account under regulation 6(2) of the Child Development Co-Savings Regulations has not reached the maximum payable under regulation 6(3) of those Regulations;(b)immediately before 1st January in the year in which the thirteenth anniversary of his date of birth falls, there are moneys standing to his credit in his Child Development Account which are liable to be transferred under regulation 10(2)(a) of the Child Development Co-Savings Regulations;(c)the trustee of his Child Development Account has made an election in accordance with regulation 10(3B)(a) of the Child Development Co-Savings Regulations and —(i)the aggregate amount of all co-payment contributions by the Government to his Child Development Account under regulation 6(2) of those Regulations has not reached the maximum payable under regulation 6(3) of those Regulations; or(ii)there are moneys standing to his credit in his Child Development Account which are liable to be transferred under regulation 10(3C)(a) of those Regulations;(d)there is a sum standing to his credit in his Edusave account which is liable to be transferred under section 13(1) of the Act, or section 13(2) or (3) of the Act as in force immediately before 10 November 2014; or(e)he is eligible for any cash grant referred to in section 16A(1)(e) of the Act.

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