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Vesting for Retention and Retirement Accounts

Home Affairs Uniformed Services (INVEST Plan) Regulations

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SECOND SCHEDULERegulation 18Vesting for Retention and Retirement Accounts1. The portion of moneys in a member’s Retention Account as specified in the second column shall vest in the member on his completing the requisite number of years of reckonable service as specified in the first column.First column Second columnLength of reckonable service in years or part thereof Retention Account Vesting6 25%8 33%10 50%12 100%.2. For the purposes of paragraph 1, a person shall be deemed to have attained the years in service prescribed in that paragraph on the anniversary of his service.3. In the case of members who have received the one-time contribution of $3,700, the amount shall vest in the member —(a)on completion of 12 years of service or as at 1st October 2002, whichever is the later; or (b)in the case of a member who has served 12 years of service but who had passed away before 1st October 2002, on the day immediately after his completion of 12 years of service.4. Subject to regulation 18(3) and (3A), the portion of moneys in a member’s Retirement Account vests in the member in accordance with the vesting scale specified in the third or fourth column —(a)corresponding to the member’s age specified in the first column, where the member is —(i)an eligible junior officer;(ii)an eligible transferred junior officer; or(iii)a junior officer (other than an eligible junior officer or an eligible transferred junior officer) as at 31 December 2018 and who becomes a member on or after that date; or(b)corresponding to the member’s age specified in the second column, where the member is —(i)a senior officer who is a member since 31 December 2018;(ii)a senior officer who transfers from the service to another scheme of service in the public service before 1 January 2019 and rejoins the service on transfer without break from the public service on or after that date;(iii)a senior officer (not being mentioned in sub-paragraphs (i) and (ii)) as at 31 December 2018 and becomes a member on or after 1 January 2019; or(iv)a member in sub-paragraph (a) who is appointed a senior officer on or after 1 January 2019.First columnSecond columnThird columnFourth columnAge as at retirement, resignation or transfer Age as at retirement, resignation or transfer Vesting scale in respect of a member who —(a)retires;(b)resigns;(c)transfers from the service —(i)to the Administrative Service; or(ii)to the employment of any statutory body approved by the Minister before the transfer, by virtue of any written law Vesting scale in respect of a member who transfers from the service to another scheme of service in the public service except the Administrative Service 28336%16%293412%22%303518%28%313624%34%323730%40%333835%45%343940%50%354045%55%364150%60%374255%65%384360%70%394465%75%404570%80%414674%84%424778%88%434882%92%444986%96%455090%100%465192%100%475294%100%485396%100%495498%100%50 and above55 and above100%100%[S 906/2018 wef 01/01/2019]4A. Subject to regulation 18(3) and (3A), where a member (other than a member mentioned in paragraph 4) becomes a member on or after 1 January 2019, the portion of moneys in the member’s Retirement Account vests in the member in accordance with the vesting scale specified in the second or third column (as applicable) corresponding to the member’s age specified in the first column.First columnSecond columnThird columnAge as at retirement, resignation or transferVesting scale in respect of a member who —(a)retires;(b)resigns;(c)transfers from the service —(i)to the Administrative Service; or(ii)to the employment of any statutory body approved by the Minister before the transfer, by virtue of any written lawVesting scale in respect of a member who transfers from the service to another scheme of service in the public service except the Administrative Service285%15%295%15%3010%20%3110%20%3210%20%3310%20%3410%20%3515%25%3620%30%3725%35%3830%40%3935%45%4040%50%4145%55%4250%60%4355%65%4460%70%4565%75%4670%80%4775%85%4880%90%4985%95%5090%100%5195%100%5295%100%53100%100%54100%100%55100%100%56100%100%57100%100%[S 1036/2024 wef 01/01/2025][S 906/2018 wef 01/01/2019][S 442/2021 wef 01/07/2021]5. For the purposes of paragraphs 4 and 4A, a person is deemed to have attained the age specified in those paragraphs on the anniversary of his birthday.[S 1036/2024 wef 01/01/2025]

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