National Retirement Scheme Act · 2024 Revised Edition · Part 2
18. Payment of cash grant by Government into Scheme
Official textFrom Attorney General's Chambers, unchanged
The Board may accept any cash grant made by the Government for the benefit of any person who qualifies for such grant under the Scheme and the Board shall credit the cash grant into the account of the person as the
Board
“Board” means the Tabung Amanah Pekerja Board established by section 3 of the Tabung Amanah Pekerja Board Act;
Minister may direct.
Any cash grant paid into the Scheme under subsection (1) shall be disbursed in accordance with the conditions of the cash grant.
Scheme
“Scheme” means the National Retirement Scheme established and maintained under section 8;
Any cash grant paid into the Scheme under subsection (1)
is deemed to be contributions for the purposes of this Act, but such cash grant or dividend thereon shall not be withdrawn under any regulations made
National Retirement Scheme under section 53 unless the regulations expressly provide for the withdrawal of such cash grant.
Notwithstanding anything in this Act, the Board shall be entitled to recover on behalf of the Government any cash grant paid into the Scheme for the benefit of any person, together with any service charge which he is liable to pay the Government under the conditions of the cash grant, from any money standing to the credit of the person if he has —
obtained the cash grant by means of any false or misleading statement or any document that is false or misleading in any particular;
or
committed a breach of any of the conditions of the cash grant.
Any money recovered by the Board from any person under subsection (4) shall be refunded forthwith to the Government.
Terms defined in s 2
Board
Defined · s 2“Board” means the Tabung Amanah Pekerja Board established by section 3 of the Tabung Amanah Pekerja Board Act;
Scheme
Defined · s 2“Scheme” means the National Retirement Scheme established and maintained under section 8;
Part
Withdrawal of Contributions
Part
Contributions by Permanent Residents Holding Foreign Citizenship
Part
Administrator Nominees
Part
Offences, Penalties and Proceedings
Part