Suggest a correction

Arrangements for members who transfer from service to other public service

Home Affairs Uniformed Services (INVEST Plan) Regulations

Match the official source exactly.

What needs fixing?

Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) Notwithstanding any provision in these Regulations to the contrary, where a member transfers from the service in order to be appointed as a public officer in a pensionable scheme of service designated by the President under section 3(4)(a) of the Pensions Act 1956 or any other scheme of service, and his period of service in the service is not counted as pensionable service for the purposes of the Pensions Act 1956 —(a)all contributions to the member’s Retirement Account and Retention Account must cease with effect from the date of the member’s transfer;(b)where a Retirement Account has been opened for the member —(i)that Account must remain open until the relevant date for that member, if the member transfers to another scheme of service in the public service before 1 January 2019 or to the Administrative Service on or after that date, and interest on the moneys in that Account at such rate as the Minister may determine must continue to be credited into the former INVEST Plan member’s Account in lieu of any dividend declared under regulation 12(4) until the moneys are paid to the member in accordance with these Regulations; or(ii)that Account must close with effect from the date of the transfer for that member if the member transfers on or after 1 January 2019 to another scheme of service in the public service except the Administrative Service, and —(A)if the member has served at least 10 years of reckonable service (counted in accordance with regulation 18(3A), if applicable) while being a member as at the date of the transfer, the balance moneys in that Account, after deducting the amount of moneys in that Account which have been vested in the member in accordance with paragraph 4 or 4A (as the case may be) of the Second Schedule, must be forfeited and transferred to the Provisional Account of the Fund; or(B)in any other case, all moneys in that Account must be forfeited and transferred to the Provisional Account of the Fund;(c)where a Retention Account has been opened for the member, the Retention Account must be closed and —(i)if the member transfers to another scheme of service in the public service before 1 January 2019 or to the Administrative Service on or after that date, all moneys in that Account must be awarded to the member; or(ii)if the member transfers on or after 1 January 2019 to another scheme of service in the public service except the Administrative Service —(A)where the member has served at least 6 years of reckonable service —(AA)half of the balance moneys in that Account on the date of transfer, after deducting the amount of moneys in that Account which have been vested in the member in accordance with regulation 18(1)(a), must be awarded to the member; and(AB)the balance moneys in that Account after the award mentioned in sub-paragraph (AA) must be forfeited and transferred to the Provisional Account of the Fund; or(B)in any other case, all moneys in that Account must be forfeited and transferred to the Provisional Account of the Fund;(d)if he transfers from the service to that scheme of service before 1 January 2019, or to the Administrative Service on or after that date, but before the sums in his Retirement Account have fully vested in him, the former INVEST Plan member may, at his option, be awarded —(i)on his transfer, such portion of the moneys standing to that member’s credit in his Retirement Account that is vested under regulation 18, and the balance of moneys in that account (together with interest thereon) subsequently at the relevant date if he is still a public officer or is an employee of the Home Team Science and Technology Agency; or (ii)all moneys in his Retirement Account (together with interest thereon) at the relevant date if he is still a public officer or is an employee of the Home Team Science and Technology Agency; and (e)if he transfers from the service —(i)to that scheme of service before 1 January 2019, or to the Administrative Service on or after that date; and(ii)after the sums in his Retirement Account have fully vested in him,all the sums vested may be awarded to the former INVEST Plan member.(2) The sum that may be subsequently awarded to a former INVEST Plan member mentioned in paragraph (1)(d), who has previously opted for the award under paragraph (1)(d)(i), must be forfeited immediately and transferred to the Provisional Account of the Fund, if the former INVEST Plan member, before the relevant date —(a)resigns, retires or is dismissed from the public service or the Home Team Science and Technology Agency; or(b)is discharged from the Police Force.(2A) If a former INVEST Plan member mentioned in paragraph (1)(d), who has previously opted for the award under paragraph (1)(d)(ii) —(a)resigns, retires or is dismissed from the public service or the Home Team Science and Technology Agency; or(b)is discharged from the Police Force,an amount equal to the sums vested in his Retirement Account at the date of his transfer from the service may be awarded to the former INVEST Plan member on his resignation, retirement, dismissal or discharge (as the case may be) and the balance in his Retirement Account must be forfeited and transferred to the Provisional Account of the Fund.(2B) [Deleted by S 906/2018 wef 01/01/2019](3) Notwithstanding any provision in these Regulations to the contrary, where a former INVEST Plan member’s period of service is to be counted as pensionable service for the purposes of the Pensions Act 1956, then with effect from the date of his transfer from the service to a pensionable scheme of service designated by the President under section 3(4)(a) of the Pensions Act 1956 —(a)where a Retirement Account has been opened for that member, his Retirement Account shall close and all moneys standing to that member’s credit in that Account shall be forfeited and transferred to the Provisional Account of the Fund; and (b)where a Retention Account has been opened for the member, the Retention Account must close and —(i)if the transfer is before 1 January 2019, all moneys in that Account must be awarded to the member; or(ii)if the transfer is on or after 1 January 2019 —(A)where the member has served at least 6 years of reckonable service —(AA)half of the balance moneys in that Account on the date of transfer, after deducting the amount of moneys in that Account which have been vested in the member in accordance with regulation 18(1)(a), must be awarded to the member; and(AB)the balance moneys in that Account after the award mentioned in sub-paragraph (AA) must be forfeited and transferred to the Provisional Account of the Fund; or(B)in any other case, all moneys in that Account must be forfeited and transferred to the Provisional Account of the Fund.(c)[Deleted by S 906/2018 wef 01/01/2019](4) The Board may, on the application of a former INVEST Plan member made at any time on or after the relevant date or (as the case may be) on or after his resignation, retirement, dismissal from the public service or the Home Team Science and Technology Agency or discharge from the Police Force, authorise the payment to the former INVEST Plan member of the relevant sum awarded under paragraph (1), (2) or (2A), as the case may be.(4A) The Board may, on the application of a member who transfers from the service under this regulation on or after 1 January 2019, made at any time on or after the date of transfer, authorise the payment to the member of the sum awarded under paragraph (1)(c)(ii)(A)(AA) or (3)(b)(ii)(A)(AA), as the case may be.(5) In this regulation —“Home Team Science and Technology Agency” means the Home Team Science and Technology Agency established by the Home Team Science and Technology Agency Act 2019;“relevant date” means the date the whole of the amount standing to the credit of the former INVEST Plan member in his Retirement Account vests in him.

What's the problem? (required)

Source link (optional)

Describe the problem (and edit the text or pick an issue type) to submit.

Suggestions are submitted anonymously. No account or personal information is required or sent.