Changing my CPF nomination

A couple of weeks ago, I changed my CPF nomination after an annual review with my spouse. Previously, I did not include my children in my CPF nomination. In doing so, we thought that this could be a risk in the event that both my spouse and I passed on at the same time. Thus, we made our way to the CPF office to change my CPF nomination. As usual, the process took only 5 minutes and the officer was very competent in answering our queries.

So in my case, what is the difference between nominating and not nominating CPF monies to include our children? Are there any benefits in doing so? Previously, I have nominated my spouse to receive 100% of my CPF monies should I passed on. That is a pretty straight-forward situation. But in the scenario of us passing on at the same time, how would my young kids receive the monies? Even if they do manage to take out the CPF monies, being kids, they will definitely lack the financial judgement to handle the monies. With these in mind, we thought it is important to amend my CPF nomination to ensure that our children will not face financial difficulties in the event of our deaths.

CPF nomination

The reason why I am sharing this article is because I hope Singaporeans can understand the implications of not making CPF nomination. There are many myths and misconceptions of CPF monies out there and I have read many sad cases of Singaporeans being left in the lurch after the sole-breadwinners died without making any CPF nomination. Then there were court cases involving family fights over CPF monies. Very often, family harmony is destroyed due to ambiguity over money legacy.

In this article, I will pen down my thoughts on the rationale of changing my CPF nomination to include my children’s names and it’s legal implications. Take note that this is not a financial advice but just an opinion article to share my personal experience. If in doubt, please do seek advice from a certified financial planner.

CPF nomination don’t cover CPF Investment Accounts

Many Singaporeans invest their CPF savings using their Ordinary and Special Accounts. But do you know that the CPF nomination does not cover CPF investments and cash held in Investment Account? One of the biggest myths about CPF nomination is that it [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]

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2 thoughts on “Changing my CPF nomination

  • May 11, 2019 at 1:44 pm

    why just 1%? In the event of both parents’ passing away, with this 1% nomination, the 100% will be held w/o going to PTO and distributed to the children upon 18 years old respectively?

  • May 11, 2019 at 2:32 pm

    Hi Leo,

    Thank you for the comments. The reason for including my children in my CPF nomination is because in the event that both my wife and I passed on, the money will be held by PTO till they are 18. But if we didn’t nominate them, the money will be held till they are 21. Of course, I would prefer my children to receive my CPF monies earlier.

    On the issue of why I distributed 1% each to my children, it is to safeguard against the scenario whereby only I died. In this case, only 2% of my CPF monies is held in PTO.


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