8 Things You Should Know About Your CPF Nomination
Below is an article published with permission from the CPF Board. Singaporeans should note the point that a Will does not cover the distribution of CPF savings after death. So please make your CPF nominations as soon as possible. You don’t want your loved ones to encounter complications over the distribution of your wealth after you are gone. What is the point of being rich but not able to transfer your wealth to your loved ones when you are not around?
A CPF nomination allows CPF members to specify who will receive their CPF savings, and how much each nominee should receive when they pass away. Here’s a list of FAQs to help you better understand it. Information on CPF nomination is also available at the CPF website.
Q1: What happens to my CPF monies if I pass away without making a CPF nomination?
Your entire savings in all your CPF accounts will be distributed by the Public Trustee to your family members according to the intestacy law or the Certificate of Inheritance (for Muslims). So, you need not worry about your CPF monies landing in the wrong hands even if you do not make a CPF nomination.Read more