Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007

Central Provident Fund Act 1953

(Section 69)

Central Provident Fund
(Exemption for Protection of
Benefits under Part V Assurance)
Order 2007

2025 REVISED EDITION

(17 December 2025)

[28 December 2007]

Citation

1.  This Order is the Central Provident Fund (Exemption for Protection of Benefits under Part V Assurance) Order 2007.

Definitions

2.  In this Order —

“automatic premium loan feature” means a feature in a life or endowment assurance which allows the issuer of the assurance to advance and set‑off, against any cash value of the assurance, an amount for the payment of —

(a) any premium of the assurance which is in arrears after any grace period, so as to protect the benefits under the assurance; and

(b) any interest payable for the advance;

“Part V Assurance” means a life or endowment assurance effected under Part V of Statute 18 (as defined in section 18(7) of the National University of Singapore (Corporatisation) Act 2005).

Exemption

3.  Section 24(2) of the Act and regulation 6 of the Central Provident Fund (Investment Schemes) Regulations 2000 do not apply to a member, in respect of any Part V Assurance held by him or her which has an automatic premium loan feature, only to the extent that the issuer of the Part V Assurance may advance and set‑off (under the automatic premium loan feature), against any cash value of the Part V Assurance, an amount for the payment of —

(a) any premium of the Part V Assurance which is in arrears after any grace period, so as to protect the benefits under the Part V Assurance; and

(b) any interest payable for the advance.