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- Written Reply by Minister for Defence Dr Ng Eng Hen to Parliamentary Question on Full Savings Vesting Bonus Scheme
Written Reply by Minister for Defence Dr Ng Eng Hen to Parliamentary Question on Full Savings Vesting Bonus Scheme
13 September 2016
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Mr Zainal Sapari: To ask the Minister for Defence whether the Ministry will include the payment of interest that could have been earned on the CPF amount owed to members under the Full Savings Vesting (FSV) Bonus scheme that has been highlighted in the Auditor-General's Report for FY2015/16.
Dr Ng Eng Hen: MINDEF is working with the CPF Board to credit the CPF amount payable to servicemen who had received the Full Savings Vesting Bonus. In accordance with the CPF guidelines, the total amount credited will include the interest that could have been earned if the CPF contributions had been made at the time of the FSVB payment.