All your burning questions on CPF nomination answered!
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.
- 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.