National Retirement Scheme Act · 2024 Revised Edition · Part · Withdrawal of Contributions
21. Withdrawals
Official textFrom Attorney General's Chambers, unchanged
On an application for the withdrawal of the sum of money standing to the credit of a member by a person entitled thereto under section 20, the Board may authorise the payment to the applicant of such sum as the member is entitled to withdraw from the Scheme and any dividend calculated in accordance with section 13 up to the date of the authorisation:
member
“member” means any person who has contributed to the member account to whose credit any amount is standing in the account and includes — (a) a self-employed person who has contributed voluntarily under section 15; (b) a self-employed person who has transferred his member account to the retirement account under section 17; and (c) any person who is or was a member in a SCP account;
Provided that when —
any contribution is due to be paid for a member in respect of any period ending not later than the last day of the month next following the date on which the withdrawal of the sum of money standing to his credit in the Scheme is authorised; and
the contributions are not paid to the Scheme until after the date of authorisation, the contributions may, in the discretion of the Board, be treated as if they had been included in the amount standing to the credit of the member at the date of authorisation of withdrawal and paid to the applicant accordingly.
National Retirement Scheme 22
All applications for withdrawal shall be supported by such evidence as may be prescribed and by such further evidence as the Board may reasonably require.
Board
“Board” means the Tabung Amanah Pekerja Board established by section 3 of the Tabung Amanah Pekerja Board Act;
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;
member
Defined · s 2“member” means any person who has contributed to the member account to whose credit any amount is standing in the account and includes — (a) a self-employed person who has contributed voluntarily under section 15; (b) a self-employed person who has transferred his member account to the retirement account under section 17; and (c) any person who is or was a member in a SCP account;
Scheme
Defined · s 2“Scheme” means the National Retirement Scheme established and maintained under section 8;
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Contributions by Permanent Residents Holding Foreign Citizenship
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Administrator Nominees
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Offences, Penalties and Proceedings
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