CPF Nomination Scheme: Step-by-Step Guide to Making a CPF Nomination

There are a few things certain in life: death, taxes, and MRT delays. Oh, and making CPF contributions, of course.

But have you ever wondered what happens to all the hard-earned savings in your CPF, especially when you die? Unlike life insurance, you can’t use a will to dictate where your savings, investments, and other assets will go.

Instead, you’ll need to make a CPF nomination. Let’s find out how this works.

What is a CPF nomination?

A CPF nomination lets you decide who will receive your CPF savings and how much each person will get upon your death.

As mentioned earlier, you cannot distribute your CPF savings through a will. So, to do estate planning properly, you must make a CPF nomination in addition to making a will.

Even if you can’t be bothered to make a will because you get charged fall-below fees on the bank account where you keep your life savings and the only property you own is in The Sims, it’s still important to make a CPF nomination.

You might feel cash poor, but your and your employer’s compulsory CPF contributions can really add up over the years, and there’s a chance you already have a nice five or six figure sum in there.

It’s a good idea to make a CPF nomination once you start getting CPF contributions (ie. once you start working). You should also review your CPF nomination after big life events like marriage or a divorce. After all, you wouldn’t want your greedy ex-spouse to end up inheriting your money!

Some important things to note

You can nominate up to 15 people to receive your CPF savings via an online application. For more than 15 people, you’ll have to visit the CPF Service Centre.

CPF nominations can only distribute the following:

• CPF Savings in your Ordinary, Special, MediSave and Retirement Accounts
• Unused CPF LIFE premiums
• Discounted Singtel shares

You cannot distribute the following through a CPF nomination:

• Properties bought using CPF savings
• Dependants’ Protection Scheme payouts
• Investments made under CPF investment Scheme

These assets will need to be distributed through a will instead.

What if you don’t make a CPF nomination?

If you don’t make a CPF nomination, your CPF savings will be distributed according to the Intestate Succession Act or, for Muslims, the Inheritance Certificate. (This is also how the rest of your assets will be distributed if you die without making a will.)

The Intestate Succession Act sets out rules for any combination of surviving relatives.

If you have a spouse and kids, half of your wealth will go to your spouse, and the other half will be divided equally between your kids. If you don’t have a spouse or kids, your money will be split between your surviving parents.

For those without a spouse, children or surviving parents or grandparents, the money might end up being inherited by siblings or aunts and uncles.

How to make your CPF nomination online

Before making a nomination, make sure you have the full name, identification number, and email address of all your nominees.

You should also have the full name, identification number, email address, and mobile number of two witnesses. These witnesses must be aged at least 21 years old, must not lack mental capacity, and have SingPass accounts, but must not be any of your nominees.

Note that if your nominee or witness is a foreigner, you will also need to provide their mailing address.

When you’ve got all the above information, you can make a nomination in the following steps:

1. Log into the CPF website using your SingPass.
2. Click on [Account services > CPF Nomination > Make a nomination].
3. Fill in the forms and submit.

Once you have submitted your nomination, an email or SMS reminder with a link will be sent to your 2 witnesses to confirm your nomination. Be sure to inform the people you’ve chosen as witnesses!

How to make your CPF nomination in person

Maybe you’re just not into technology or prefer the human touch. Instead of making a CPF nomination online, you can do so in person at a CPF Service Centre.

Book an appointment online at least one day in advance, and don’t forget to bring along your NRIC/passport when you show up for your appointment.

You should also bring along photocopies of your nominees’ NRIC/foreign identification document and have their personal particulars (full name, NRIC/passport/ID number, mailing address for foreign nominees) ready.

There’s no need to find witnesses as the CPF Board can just get their staff to witness your nomination.

How will your CPF savings be paid out?

Nominees will receive your CPF savings in cash via cheque or GIRO.

If you’re a parent nominating a child with special needs, you can make a Special Needs Savings Scheme (SNSS) nomination to enable them to receive the money on a monthly basis.

Apart from CPF nomination, what else should you do?

In addition to a CPF nomination, you should also write a will to deal with the rest of your assets. You can also arrange for care of your children, if any, through your will.

You might also wish to make a Lasting Power of Attorney (LPA) to ensure someone you trust makes decisions on your behalf if you lose mental capacity.

An Advance Medical Directive (AMD) is another good-to-have if you wish to prevent your family from prolonging your life using extraordinary life-sustaining treatment if something were to happen to you.

While doing all this admin, it’s also worthwhile to get your life insurance policies in order.

Not sure what other tasks you should complete? Click here for a complete estate planning checklist.

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