Anonymous

27 Jan 2020

∙

When someone passes away, does their nominee only get the CPF amount in the CPF OA?

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)

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)

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IC

25 Jan 2020

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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