Singapore legislation
Regulation 34
of Home Affairs Uniformed Services (INVEST Plan) Regulations
Regulation 34
Preserved contract gratuity
Where a junior officer on contract service exercises an option to convert to the permanent establishment, the Board shall cause to be credited to his Retention Account an amount determined in accordance with the formula:
in the case of an officer who was appointed on a contract before 1st April 1999where PE is the officer’s last drawn pensionable emoluments as of 30th September 2001; and CS is the total length of service rendered by the officer immediately before 1st October 2001;
in the case of an officer who was appointed on a contract on or after 1st April 1999 where PE is the officer’s last drawn pensionable emoluments at that material point in time.