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.

Take note!

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.

Every CPF nomination requires 2 witnesses to confirm that you have made the nomination willingly and that this decision was not made on impulse. This is to ensure that there will be no disputes over the nomination after you have passed. Your witnesses should not be your nominees and should also not be an organisation.
If you have made a CPF nomination before getting married, you would have to make a new one after marriage. Your previous nomination will be cancelled in consideration of your new familial structure.

Read about CPF Contribution Rate

Category

Central Provident Fund

Posted on

2023-05-19

Share our post

Written by

Joy

Digital Marketing Executive

For more information or enquiries, please contact Joy at hello@workclass.co

About Workclass

At WorkClass, we offer a variety of jobs in many different fields, such as production, warehouse work, customer service, and administration. We pride ourselves in being the leading front line job portal in Singapore, and we have been quickly becoming the leading portal in South East Asia since our founding in 2020. Many of our jobs don't require any experience and can be started immediately. We are also fortunate to have the support of some great investors and have been featured in Business Times and CNA. Our goal is to help everyone find a job within 24 hours.

Explore other topics:

12 Most In-Demand Jobs in Singapore in 2023 [With Salary]

Average Salary in Singapore by Age, Experience and Education Level

How to Introduce Yourself in Job Interview as Fresh Graduate [With Example]

10 Side Hustles in Singapore That Allow You to Work from Home

CPF Contribution Rate 2023, Updated with Table

Are interns and part timers entitled to CPF contributions?