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Anonymous
How about medisave, special account and retirement account, do they release all of that as well?
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Elijah Lee
27 Jan 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
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As long as money is still in CPF (OA, SA or MA) will be release to nominee. CPF money already invested or paid for home loan is no part of this (cover by normal will)
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Pang Zhe Liang
21 Jan 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Firstly, it is not always true that the nominee(s) will only get the estate's CPF monies through CPF...
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Hi anon,
To put it simply, as long as there is a valid nomination made, the monies from all CPF accounts will be distributed according to the percentage specified in the nomination.
If not, they will follow the rules Intestate Succession Act.
Note that this applies to the monies in the account, not investments that were made with the monies (e.g. CPF OA funds used to buy shares or UTs cannot be distributed via the nomination method. You'll need a Will for this)