Singapore legislation
Regulation 12A
of Home Affairs Uniformed Services (INVEST Plan) Regulations
Regulation 12A
Transition payment
Subregulation 1
The Board may cause a transition payment to be credited annually into the Retirement Account of a member —
to whom any additional annual contribution was paid, or may be payable, before 1 January 2019; and
where cessation of the additional annual contribution payments to the member may cause disadvantage to the member.
Subregulation 2
Without limiting paragraph (1), the Board may cause a further transition payment to be credited into the Retirement Account of a member described in that paragraph if —
the member’s Retirement Account is about to close under regulation 15 because the member —
retires from the service but not because of disciplinary proceedings;
resigns from the service to join the employment of a statutory body with the approval of the Ministry of Home Affairs;
is transferred from the service to another scheme of service in the public service except the Administrative Service, unless the transfer is at the member’s request; or
dies in service; or
the member’s Retirement Account remains open but contributions to the Retirement Account cease under regulation 19(1)(a) or 19B(1)(a) (as the case may be) because the member —
transfers from the service to the Administrative Service, unless the transfer is at the member’s request; or
is transferred under any written law from the service to the employment of a statutory body.
Subregulation 3
The further transition payment mentioned in paragraph (2) for the year that a member retires or transfers from the service or dies in service may be pro-rated according to the proportion the following period (whichever is applicable) bears to the whole year:
the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s retirement (both dates inclusive);
the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s transfer (both dates inclusive);
the period of the member’s reckonable service starting 1 January of that year to the date of the member’s death (both dates inclusive).
Subregulation 4
The Board may determine different amounts of the transition payments mentioned in paragraphs (1) and (2) for different members.