CPF Nomination

Hi, I would like to ask about how the CPF Nomination works. In the unfortunate event of my demise, is everything from all 3 accounts (OA, SA & MA) distributed?

For example, assume I have 100k collectively from all 3 accounts and I want to nominate in a 40/40/20 split to my parents and sibling. Does it mean that my parents will receive 40k each and my sibling 20k?

Thanks in advance!

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Benjamin Low

25 Jan 2023

Associate Director of Sales at Manulife Financial Advisers

Hey Sam!

Yes, in the event of your demise, the CPF nomination will apply to all three of your CPF accounts (Ordinary Account (OA), Special Account (SA) and Medisave Account (MA)). The money in all three accounts will be distributed according to your nomination.

When you make a CPF nomination, you can specify the percentage or dollar amount of your CPF savings that you wish to nominate to each beneficiary. For example, if you have $100,000 in your CPF accounts and you nominate a 40/40/20 split to your parents and sibling, your parents will each receive $40,000 and your sibling will receive $20,000.

It's important to note that the CPF nomination is a legal document and it will take precedence over the distribution of your assets under your will or the intestacy laws. And make sure to review your CPF nomination regularly and update it as your circumstances change.

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SH

04 Jan 2023

Yes, all 3 accounts are consolidated and distributed

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YOC

03 Jan 2023

Yes i believe so...

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