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| Have you ever wondered what happens to your loved one's CPF monies when they are no longer around? How can the CPF be withdrawn? What are the procedures like? This handbook describes how you can withdraw your loved one's CPF upon his demise. |
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| 1. |
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If a member has made a valid CPF Nomination, the following will be distributed to his nominees in the proportion as stated in his nomination upon his death, where applicable:
| a) |
Savings in the Ordinary, Special, Medisave and Retirement Accounts; |
| b) |
Discounted SingTel shares; and |
| c) |
Economic Restructuring Shares (ERS), which will be converted to cash to form part of CPF savings. |
The following are not covered by CPF Nomination but instead form part of the deceased’s estate:
| a) |
Cash and investments held in the CPF Investment Account under the CPF Investment Scheme-Ordinary Account (CPFIS-OA); |
| b) |
Investments held under CPF Investment Scheme-Special Account (CPFIS-SA); |
| c) |
Insurance money from the Dependants’ Protection Scheme (DPS) if the deceased was insured under the Scheme; and |
| d) |
Properties bought with CPF savings. |
You do not need to make a CPF nomination if you wish to distribute your CPF savings under the intestacy laws. Distribution by the Public Trustee under the intestacy laws ensures that your family members will receive your CPF savings. For example:
1) If you are single, your CPF savings will be divided equally between your parents.
2) If you are married with children, half of your CPF savings will be given to your spouse, and the remaining half divided equally among your children.
For Muslims, your CPF savings will be distributed by the Public Trustee according to the Inheritance Certificate, which your family members can obtain from the Syariah Court (Muslim inheritance law).
If you wish to distribute your CPF savings differently from the intestacy laws/Muslim inheritance law, you will need to make a CPF nomination.
If you do wish to nominate, please note that:
1) A marriage will automatically revoke an earlier nomination, if any.
2) A divorce does not revoke an earlier nomination, if any.
3) A will does not supersede an earlier nomination, if any.
4) If your nominee is below the age of 18 years at the time your CPF savings are paid out, his/her share will be forwarded to the Public Trustee for administration until he/she reaches 18 years of age.
5) If any of your nominees is an undischarged bankrupt at the time your CPF savings are paid out, the Board will be legally obliged to inform the Official Assignee (OA) of any assets that are due to him as his estate is vested in the OA by virtue of the laws in Singapore relating to bankruptcy.
To know more about the distribution of CPF savings under intestacy laws/Muslim inheritance law and under nomination, click here.
The Public Trustee is a government body that acts as a trustee of the deceased's estate. It ensures that the assets of the deceased are distributed to the rightful beneficiaries.
If you require further information or clarification, please contact:
The Public Trustee
The URA Centre,
East Wing,
45 Maxwell Road, #06-11,
Singapore 069118
Tel: 6325 1497/63251504 , Fax: 63251418
Website : http://www.minlaw.gov.sg/ipto/
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| 2. |
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The Board will transfer the following to the Public Trustee for distribution in accordance with the written law:
| a) |
Savings in the Ordinary, Special, Medisave and Retirement Accounts; and |
| b) |
Economic Restructuring Shares (ERS), which will be converted to cash to form part of CPF savings. |
The following will form part of the deceased’s estate:
| a) |
Cash and investments held in the CPF Investment Account under the CPF Investment Scheme-Ordinary Account (CPFIS-OA); |
| b) |
Investments held under CPFIS-SA; |
| c) |
Insurance money from the Dependants’ Protection Scheme (DPS) if the deceased was insured under the Scheme; |
| d) |
Properties bought with CPF savings; and |
| e) |
Discounted SingTel Shares. |
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| CPF monies and assets include the following : |
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| 3. |
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CPF savings comprise the balances left in the deceased member's Ordinary, Medisave and Special/Retirement Accounts |
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| 4. |
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The balance in the deceased member's Retirement Account will be paid out in a lump sum to his CPF nominees if he had set aside his own Minimum Sum. However, if he had set aside the CPF Minimum Sum jointly with his spouse, his Retirement Account balance will be transferred to the surviving spouse's Retirement Account to make up the full CPF Minimum Sum. Any excess would be paid in a lump sum to the surviving spouse as beneficiary of the CPF Minimum Sum.
If the member passes away before he has used up his CPF Minimum Sum, the remaining
• Annuity payment;
• Fixed deposit placement; or
• CPF Minimum Sum
will be paid out in a lump sum to his beneficiaries if the member had made a valid CPF nomination. If there is no valid CPF nomination, the deceased’s remaining annuity payment, fixed deposit placement or the CPF Minimum Sum will be transferred to the Public Trustee for distribution in accordance with the written law.
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| 5. |
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Dependants' Protection Scheme (DPS)
The insurance money from the DPS will be paid according to the Insurance Act, to his family members or appointed beneficiaries through the deceased's estate. |
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Home Protection Scheme (HPS)
If the deceased was covered under the Home Protection Scheme, the Board would deal directly with the Housing Development Board [HDB] or the approved mortgagee on the settlement of HPS benefits. |
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| 6. |
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If the member passed away on or after 1 January 1996, his Discounted SingTel shares (ST A and ST2), including the loyalty shares will be distributed to his CPF nominees. The nominees can choose to sell or transfer the shares to their own Central Depository Pte Ltd securities' accounts.
If the member passed away before 1 January 1996 or if he did not make a nomination, his Discounted SingTel shares will form part of his estate and will be distributed accordingly to the beneficiaries of the estate.
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| 7. |
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CPFIS investments are not covered by CPF Nomination. When a member passes away, the investments (e.g. shares, unit trusts, bonds) and cash balance in the Investment Account will form part of the deceased's estate, and will be distributed accordingly to the beneficiaries of the estate. Insurance policies also generally form part of the deceased's estate. In the case of NTUC Income, a member has the choice to make a nomination of beneficiaries to receive the insurance money. |
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The ERS will be exchanged for cash and the proceeds transferred to the deceased member's CPF account for distribution, together with other CPF monies. |
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| 9. |
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The family members of the deceased can inform the Board of the member's death by submitting his death certificate at any CPF office or through post/fax to the CPF Board. After verifying the validity of the deceased member's nomination, the Board will invite the nominee(s) to claim the deceased member’s CPF monies.
79 Robinson Road
CPF Building, #14-01
Singapore 068897
Attention: Withdrawal Schemes Department
Fax: 6229-3249
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| 10. |
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The nominee(s) should submit copies of the following documents when applying to withdraw the deceased member's CPF monies :
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(1) |
Copy of Death Certificate of the deceased member |
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(2) |
Nominee’s Singapore identity card or other identification documents (if applicable) |
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(3) |
Original copy of Nominee’s bank passbook or bank statement |
If there is a need, the Board may require additional documents to be submitted to enable us to process the release of the deceased member’s CPF monies.
Note: If the member was a Singapore citizen or permanent resident and had passed away overseas, the family member/nominee(s) should report the death at the Registry of Births and Deaths (RBD) together with the overseas death certificate and the deceased’s Singapore identity card before informing the Board of the member’s death. A copy of the overseas death certificate and the letter from RBD confirming the cancellation and surrender of the deceased’s identity card records should be submitted to the Board.
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| 11. |
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The CPF Withdrawal Form must be completed by the nominee(s). The form has to be submitted together with the required documents (please see point 11) to the Board by post or at our offices.
If the nominee is abroad, the supporting documents submitted must be certified true by a Notary Public or the Singapore official from the Singapore High Commission or the Embassy of the Republic of Singapore. The Notary Public or the Singapore official must affix his seal, stamp or state his official title next to his signature. |
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| 12. |
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The nominee may request payment to be made through his bank account or a CPF withdrawal cheque. |
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FOR ENQUIRIES,
PLEASE CALL THE CPF CALL CENTRE AT 1800-227-1188
OR E-MAIL TO withdrawal-on-death@cpf.gov.sg |
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