CPF money nomination

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

CPF money nomination

Postby Jennifer » Fri Dec 18, 2015 9:10 pm

Do make sure your old parents' CPF nomination form has been filed properly.

If in doubt, file a new nomination form just to make sure the details of the beneficiaries are correct and up to date.

CPF money are not distributed under the will, must have nomination done at CPF.

Nomination form can be downloaded. The two witnesses can be CPF staff.

Jennifer
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 23240
Joined: Fri Sep 05, 2008 1:10 pm
Total Likes: 106


Re: CPF money nomination

Postby starlight1968sg » Sat Dec 19, 2015 8:39 am

My parents did their many years ago.

For newly married couples, the nomination made before marriage becomes invalid and MUST make a new one.

I think for divorced, the nomination may still be valid !?!

starlight1968sg
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 10120
Joined: Mon Nov 16, 2009 8:43 am
Total Likes: 23


Re: CPF money nomination

Postby Jennifer » Sat Dec 19, 2015 12:36 pm

starlight1968sg wrote:My parents did their many years ago.

For newly married couples, the nomination made before marriage becomes invalid and MUST make a new one.

I think for divorced, the nomination may still be valid !?!



Ours were done after marriage ROM.

I intend to change the nomination to include the children.

No doubt the CPF fund will be distributed according to the intestacy laws if no nomination was done, having the nomination done will definitely speed up the distribution process.

Also takes away any unforeseen complications.

Jennifer
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 23240
Joined: Fri Sep 05, 2008 1:10 pm
Total Likes: 106


Re: CPF money nomination

Postby ngl2010 » Sat Dec 19, 2015 12:38 pm

Jennifer wrote:
starlight1968sg wrote:My parents did their many years ago.

For newly married couples, the nomination made before marriage becomes invalid and MUST make a new one.

I think for divorced, the nomination may still be valid !?!



Ours were done after marriage ROM.

I intend to change the nomination to include the children.

No doubt the CPF fund will be distributed according to the intestacy laws if no nomination was done, having the nomination done will definitely speed up the distribution process.

Also takes away any unforeseen complications.

Since ah boy is under age, can you nominate him? Or must set up trustee first?

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: CPF money nomination

Postby Jennifer » Sat Dec 19, 2015 12:41 pm

ngl2010 wrote:
Jennifer wrote:
starlight1968sg wrote:My parents did their many years ago.

For newly married couples, the nomination made before marriage becomes invalid and MUST make a new one.

I think for divorced, the nomination may still be valid !?!



Ours were done after marriage ROM.

I intend to change the nomination to include the children.

No doubt the CPF fund will be distributed according to the intestacy laws if no nomination was done, having the nomination done will definitely speed up the distribution process.

Also takes away any unforeseen complications.

Since ah boy is under age, can you nominate him? Or must set up trustee first?



Hm, did not realize this underage issue.

I intend to go down to CPF Board to check.

Jennifer
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 23240
Joined: Fri Sep 05, 2008 1:10 pm
Total Likes: 106



Re: CPF money nomination

Postby starlight1968sg » Sat Dec 19, 2015 1:06 pm

Yes, jennifer, appreciate to find out for underage's nomination as dd has a cpf account
Thanks

starlight1968sg
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 10120
Joined: Mon Nov 16, 2009 8:43 am
Total Likes: 23


Re: CPF money nomination

Postby ngl2010 » Sat Dec 19, 2015 2:25 pm

Please update us, Jennifer. Thank you.

ngl2010
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 6029
Joined: Tue May 24, 2011 2:03 pm
Total Likes: 68


Re: CPF money nomination

Postby lego » Sat Dec 19, 2015 2:47 pm

Cut and Paste from the FAQ on "Criteria for Nominee" in CPF website:

You can nominate any person or organisation. However, please take note of the following:

(1) Person who is below 18 years old

You can nominate someone who is below 18 years old. However, if he is below the age of 18 at the time of claim, his share will be released to the Public Trustee for administration until he reaches 18 years of age.

For more details, please contact the Public Trustee at:

The Public Trustee's Office
45 Maxwell Road
#07-11, The URA Centre (East Wing)
Singapore 069118
Email: OneMinLaw@mlaw.gov.sg
Tel: 1800 2255 529
Fax: 6224 2858

You can also refer to the Public Trustee's information on 'Administration of monies held in trust for minor beneficiary'.

https://www.cpf.gov.sg/Members/Schemes/ ... ion-scheme

lego
BrownBelt
BrownBelt
 
Posts: 575
Joined: Fri Sep 18, 2009 11:10 am
Total Likes: 7


Re: CPF money nomination

Postby starlight1968sg » Sat Dec 19, 2015 2:49 pm

I may be keen to find out for CPF members of below age 21, need to make a nomination?

starlight1968sg
KiasuGrandMaster
KiasuGrandMaster
 
Posts: 10120
Joined: Mon Nov 16, 2009 8:43 am
Total Likes: 23


Re: CPF money nomination

Postby lego » Sat Dec 19, 2015 2:51 pm

starlight1968sg wrote:I may be keen to find out for CPF members of below age 21, need to make a nomination?


From the FAQ as well:

What is the minimum age for making a CPF nomination and why is it so?

CPF members who have attained 16 years of age are able to make a CPF nomination. The introduction of the minimum age for making a CPF nomination is to be in line with the minimum age to work and earn wages under the Employment Act.

lego
BrownBelt
BrownBelt
 
Posts: 575
Joined: Fri Sep 18, 2009 11:10 am
Total Likes: 7


Next

Return to Money Matters