Singapore legislation
Regulation 16
of Home Affairs Uniformed Services (INVEST Plan) Regulations
Regulation 16
Application to junior officers promoted to senior officers
Subregulation 1
The Retention Account of a member who is —
an eligible senior officer;
an eligible transferred senior officer; or
an eligible junior officer or eligible transferred junior officer, who is appointed a senior officer on or after 1 January 2019,must remain open until the relevant date for that member, and interest on the moneys in that account must continue to be credited into the member’s account in accordance with regulation 12(4)(b) until all moneys in the Retention Account are paid to the member in accordance with these Regulations.
Subregulation 2
For the purposes of paragraph (1), “relevant date” means the date the whole of the amount standing to the member’s credit in his Retention Account vests in him.