Money in your Central Provident Fund (CPF) and Nomination
If you have made a nomination under the CPF Act, your nominee shall be entitled to the funds in certain CPF accounts regardless of what is stated in your Willi. If you have not made a nomination, your funds will be distributed under the law in accordance with the Intestate Succession Act.
Even if you have a Will, you need to nominate so that your CPF savings, DPS insured sum, Discounted Singapore Telecom shares, fixed deposits under CPF Investment Scheme-Special Account (CPFIS-SA) and Economic Restructuring Shares (ERS) will be paid to your nominees.
If you get married after making a nomination, your nomination made before marriage is automatically cancelled, unless you say that it was made in contemplation of marriage.
Therefore, you should nominate when:
(a) You start working and contributing to the CPF.
(b) You marry as marriage makes any previous nomination invalid.
(c) You re-marry or if there is a change in your marital status.
| Next > |
|---|
Related Links
Latest News
- Refreshing New Look for Wills.sg
- What are your charges for acting in application for Grant of Probate, Letters of Administration or Resealing?
- Where can I find the statutory provisions relating to resealing of grant in Singapore?
- Does Loh Eben Ong and Partners assist clients to apply for a Memorandum of Resealing?
- If I want to Reseal a Grant in Singapore, which court in Singapore has jurisdiction?
Currency Converter
Polls
Why am I reluctant to make a Will?
LawSG Weather
Featured Links
LAW.com.sg - Singapore Lawyers and Law Firm with a Virtual Law Practice. Empowering Legal Services Online!



