Skip to content
In force2024 Revised Edition
Contents

Part 2

16. Crediting of contributions into account

(1)

Subject to subsection (2), the following accounts are to be maintained under the Scheme —

(a)

a member account; and

(b)

a retirement account.

(2)

The Board shall credit to the accounts specified in subsection (1)

every contribution paid into the Scheme for a member in such manner as the

Minister may direct and the Minister may give different directions in respect of different classes of members.

(3)

A member account referred to in subsection (1)(a) is an account maintained for the crediting of every contribution paid into the Scheme by a member, or voluntary contribution by a self-employed person or employer, under this Act in such manner as the Minister may direct and the Minister may give different directions in respect of different classes of members.

(4)

A retirement account referred to in subsection (1)(b) is an account maintained for the crediting of every contribution paid into the Scheme by an employer or self-employed person under this Act in such manner as the

Minister may direct.

Report

Part

Withdrawal of Contributions

Part

Contributions by Permanent Residents Holding Foreign Citizenship

Part

Administrator Nominees

Part

Offences, Penalties and Proceedings

Part

General

Schedules