Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995

Central Provident Fund Act 1953

(Section 77(1))

Central Provident Fund
(Revised Retirement Sum Scheme)
Regulations 1995

2025 REVISED EDITION

(17 December 2025)

[1 July 1995]

PART 1

PRELIMINARY

Citation

1.  These Regulations are the Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995.

Application

2.—(1)  Unless otherwise provided, these Regulations apply to all members of the Fund who have attained or will attain 55 years of age on or after 1 July 1995 but before 1 July 2004.

(2)  Where a provision in these Regulations applies to a member who has attained 55 years of age before 1 July 1995, the retirement sum applicable to that member is the retirement sum specified in the First Schedule.

(3)  Where a provision in these Regulations applies to a member who has attained or will attain 55 years of age on or after 1 July 1995 but before 1 July 2004, the retirement sum applicable to that member is the retirement sum specified in the Second Schedule.

(4)  Despite paragraphs (1), (2) and (3), a member of the Fund to whom section 15AA(5) of the Act or a former provision applies, and who has complied with that provision, need not comply with these Regulations.

Definitions

3.  In these Regulations —

“annuity plan” has the meaning given by section 27J of the Act;

“applicable member” means a member who is a person mentioned in paragraph 3(2)(b), (h), (i), (j) or (k) of the Retirement and Re‑employment (Exemption) Notification 2011;

“approved benefit” means a pension, annuity or other benefit approved by the Board —

(a) for the purposes of section 15AA(2)(b) or (3)(b) of the Act or a former provision; or

(b) to be taken into account in computing the retirement sum that has been set aside, for the purposes of these Regulations;

“benefit component”, in relation to a member with partial benefits at any time, means an amount computed in accordance with the formula (P ÷ Q) × R, where —

(a) P is the monthly income that the member is receiving or will receive from all of the member’s approved benefits based on information available to the Board at that time;

(b) Q is the payout benchmark applicable to the member; and

(c) R is the retirement sum applicable to the member;

“committed amount” has the meaning given by regulation 3B;

“determined amount” means the determined amount —

(a) paid to a member under section 15(7A)(a) of the Act; or

(b) transferred to a member’s retirement account under section 15(7A)(b) of the Act,

as the case may be;

“insurer” means any person registered under the Insurance Act 1966 to carry on insurance business in Singapore;

“Lease Buyback Scheme” means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money —

(a) which is to be paid in accordance with the terms and conditions of the scheme; and

(b) the whole or part of which may be used for the payment of a premium for an annuity plan under the Scheme;

“member with full benefits” means a member who, pursuant to section 15AA(3)(b) of the Act or a former provision, does not need to comply with section 15(6)(a) of the Act by reason of the member’s approved benefits;

“member with partial benefits” means a member whose approved benefits provide the member with a monthly income that is less in value than the payout benchmark applicable to the member;

“member’s balance” means the amount mentioned in section 15(6C)(a) of the Act, and any interest accruing on that amount, standing to the credit of the member;

“property component” means the amount of the applicable charges specified by the Board under regulation 4B;

“relevant member” and “Scheme” have the meanings given by section 27J of the Act;

“relevant property charge” means a charge under section 21(1), 21A(1), 21B(1), 27E(1)(h) or 27F(1)(h) of the Act;

“remaining committed amount”, in relation to a member, means the amount (if any) by which the committed amount exceeds the total amount that the member has withdrawn, from the sum standing to the member’s credit in the Fund, under section 15(2)(a), (3) or (4)(a) of the Act;

“reserved amount”, in relation to a member, means such reserved amount mentioned in section 15(6)(c) of the Act as may be applicable to that member under the Central Provident Fund (Reserved Amount) Regulations 2014;

“shortfall in the retirement sum applicable to the member” means the amount by which the retirement sum applicable to the member exceeds the total of the following amounts:

(a) the retirement sum that has been set aside by the member determined in accordance with regulation 4(2) or 4A, as the case may be;

(b) the property component, if any.

Former provisions

3A.  In a regulation specified in the first column of the Fifth Schedule, a reference to a former provision means any provision of the Act specified in the second column of that Schedule opposite that regulation.

Committed amount

3B.—(1)  For the purposes of these Regulations, each member has a committed amount that is not transferred to the member’s retirement account towards the maintenance of the member’s retirement sum.

(2)  The committed amount for a member is the sum of —

(a) the amount which remains standing to the credit of the member in his or her ordinary, special and medisave accounts immediately after all the amounts to be transferred to the member’s retirement account under regulation 5(1) or (2) (as the case may be) and regulation 5AA(1) (if applicable) have been so transferred, excluding the amount to be retained in his or her medisave account at that time; and

(b) on or after the SAC Start Date, the sum of all additional SA‑related amounts applicable to the member.

(3)  In paragraph (2) —

“additional SA‑related amount”, in relation to a member to whom any paragraph of the Sixth Schedule applies, means an amount specified as an additional SA‑related amount in that paragraph of the Sixth Schedule;

“SAC Start Date” has the meaning given by regulation 2 of the Central Provident Fund (Closure of Special Account) Regulations 2025.