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← Central Provident Fund Act 1953

Central Provident Fund Act 1953 s 15B

Central Provident Fund Act 1953 s 15B

s 15B Setting aside additional sum

15B.—(1) Before 1 January 2014, a member who is entitled to withdraw the sum standing to the member’s credit in the Fund under section 15(2)(a), (3) or (4) may, in addition to the retirement sum required to be set aside under section 15(6)(a), set aside in accordance with regulations made under this Act, the balance or any part of the balance of the sum which the member is entitled to withdraw under section 15(2)(a), (3) or (4) (called in this section the additional sum).[24/2013; 26/2016] (2) The additional sum set aside under subsection (1) may, before 1 January 2014 —(a) be deposited with an approved bank; or (b) be used to purchase an approved annuity from an insurer.[24/2013] (3) Sections 25 and 25A does not apply to the additional sum set aside under subsection (1).[39/2000] [Act 39 of 2021 wef 18/06/2022]

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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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