All your burning questions on CPF nomination answered!
Author
Joy
Category
Central Provident Fund
Posted on
2023-01-23
Views
195
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Author
Joy
Category
Central Provident Fund
Posted on
2023-01-23
Views
195
Share our post
Did you know it can take up to 6 months for your CPF to be distributed if you don't have a CPF nomination? Whether you are starting to work or starting to retire, if you are a "kiasu" Singaporean, CPF nomination is definitely a step you can take to prepare for your future.
A CPF nomination is an application to appoint a person or multiple persons to receive your CPF contributions after your death.
You can nominate multiple people and decide on the percentage that you want them to receive, this can be done even if the nominee does not have a CPF account.
This nomination is to ensure that your CPF contributions are allocated to the people who you want to receive your savings without any cost.
A CPF nomination can be applied on the CPF website or at CPF service centres.
You can apply for a CPF nomination as soon as you turn 16 or preferably when you start working. It would be good to review your CPF nomination from time to time, especially after major events such as marriage, childbirth, divorce or if your nominee has passed.
The CPF nomination covers all CPF savings in the Ordinary Account, Special Account, Retirement Account and Medisave. It covers all CPF LIFE Annuity Premiums that were not used and Discounted Singtel Shares.
Properties that were bought using CPF savings, payouts from the Dependents' Protection Scheme and investments made using the CPF Investment Scheme are not covered by CPF nomination.
Category
Central Provident Fund
Posted on
2023-01-23
Share our post
Written by
Joy
Digital Marketing Executive
For more information or enquiries, please contact Joy at hello@workclass.co
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WorkClass is the leading front line job portal in Singapore. We offer a variety of jobs from different categories, including production, warehouse, admin, and customer service. WorkClass was founded in 2020 and quickly became the leading portal in Singapore and South East Asia. We have a wide range of part-time and full-time jobs in all locations. You can choose between logistics, f&b, customer service, and admin jobs. Many jobs do not require any experience and you can start immediately. Over 6,000 employers are hiring with WorkClass. We are fortunate to be backed by some of the best investors and we have been featured on Business Times, CNA, and many other leading news sources. Our mission is to help everyone to find a job in 24 hours.
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