Central Provident Fund Board
CPF has clearly stated in it’s website that ALL the CPF savings in the Ordinary, Special and Medisave accounts as well as the discounted SingTel shares bought in 1993 when SingTel went public, will be distributed to his nominees according to the proportion stated in his nomination form.
If you have not made a nomination, your CPF savings will be distributed to your family members according to Singapore’s Intestacy laws. Muslims will have to follow the Inheritance Certificate from the Syariah Court.
If you have invested your CPF savings, the Dependent Protection Scheme (DPS) claims proceeds and properties bought using CPF savings are NOT covered by the CPF nomination. You should have a valid will to cover these assets. Properties held with the legal status of “Joint Tenancy”, usually with your spouse, is not affected as it will automatically vested in the spouse name. But your spouse should have a will too, in case both die at the same time.
If you are getting married soon, make a new nomination after marriage as your previous nomination while you were single will no longer be valid.
If you are divorcing your spouse soon and no longer want to leave any money to your spouse, make a new nomination as your previous nomination is still valid even when you divorce!
Click here for the nomination form and instructions.
CPF Nominations – What is covered
