Topping up your retirement savings refers to the Retirement Sum Topping-Up Scheme (RSTU). RSTU helps you build up your own or your loved ones’ retirement savings through higher monthly payouts/extending duration of your payout.
General
1. By accessing this website, any pages thereof and/or by using this online service, you agree to be legally bound by these Terms & Conditions (“Terms”).
2. Where the provisions of these Terms refer to “you” and “your”, such provisions shall also apply to and bind the relevant account holder(s) of the bank account for the GIRO arrangement (“Selected Account”), and you confirm that you have been duly authorised to act for and/or give instructions on the relevant account holder(s)’ behalf.
3. CPFB reserves the right to change these Terms from time to time at its sole discretion. All changes will be posted on this page, and your use of the GIRO arrangement after such changes have been posted will constitute your agreement to the modified Terms and all of the changes. If you do not agree to the revised Terms (if any), please terminate your GIRO arrangement before the next deduction.
4. Where you are the account holder of the Selected Account, these Terms & Conditions shall be read without the reference to “account holder concerned” in the text. Where you are not the account holder of the Selected Account, these Terms & Conditions shall be read with the references to “account holder concerned” intact and construed as being binding on both you and the account holder concerned, and you have been duly authorised by the account holder concerned to act and/or otherwise give instructions on behalf of such account holder.
5. By your use of this online service, you and the account holder concerned agree to be legally bound by these Terms & Conditions.
6. The information given in this application will supersede your existing GIRO arrangement maintained in CPF Board’s systems for the Retirement Sum Topping-Up Scheme.
7. By signing up for this GIRO arrangement, you and the account holder concerned agree to CPF Board debiting or crediting the Selected Account of the amount stated on the Standing Instruction for cash top-up to my own/ recipient’s Special/Retirement Account.
8. The GIRO arrangement will remain in force until such time that the any of the following events take place:
a. the Bank delivers a written notice of termination to the account holder concerned’s registered or last known address based on the Bank’s records;
b. the Bank receives written revocation from you or the account holder concerned, and agrees or otherwise accepts the terms of such revocation;
c. the Bank receives notice of expiry of such GIRO arrangement from the Billing Organisation or the CPF Board;
d. the CPF Board receives your written revocation; or
e. the CPF Board receives notice of revocation from the Bank.
9. CPF Board reserves the right to terminate the GIRO arrangement at any time at its sole discretion.
10. Any cash top-ups in excess of your/your recipient’s topping-up limit will be refunded without interest to you.
11. This GIRO application is subject to the Bank’s approval, and your (or the account holder concerned’s) use of the Bank’s banking products and services shall be governed by the relevant terms of service.
13. This GIRO Authorization application is facilitated by the eGIRO service (“eGIRO Service”) provided “as is” and “as available” by the Association of Banks in Singapore (ABS). You understand, acknowledge and agree that:
a. eGIRO Service is operated by a third party service provider (“Service Provider”). Therefore, your access and use of the eGIRO Service is subject to the availability of the services by the Service Provider, the Bank and CPFB;
b. Your use of the eGIRO Service is subject to terms and conditions imposed by the Service Provider and the Bank and you agree to comply with such terms and conditions;
c. As eGIRO Service is operated by the Service Provider and not CPFB, CPFB does not represent or warrant that your use of the eGIRO Service and/or the eGIRO Service transactions will be successful, uninterrupted, complete, timely, secure, or free of any error; and
d. CPFB reserves the right to determine the type of transactions that can be made using the eGIRO Service at our sole discretion.
14. You shall not use the eGIRO Service for any improper purpose or in an improper manner, including but not limited to unauthorised or erroneous transactions or activities or for interfering or attempting to interfere with the proper working of the eGIRO Service and/or of any system or network connected thereto.