CPF nomination: what happens to CPF savings when someone dies

CPF savings are handled differently from almost everything else a person leaves behind. They do not pass under a will, and they do not wait for probate. What happens to them depends on one thing: whether the person made a CPF nomination.

This guide is in two parts. The first is for families dealing with a recent death. The second is for anyone thinking ahead about their own savings.

This article is general information, not legal advice.

Why a will does not cover CPF

CPF Board is direct about this: CPF savings cannot be included in a will because they do not form part of your estate. Even a carefully drafted will that says “everything I own goes to my spouse” does not reach the money in CPF accounts.

Instead, CPF savings are distributed in one of two ways:

• to the people named in a valid CPF nomination, or
• if there is no valid nomination, through the Public Trustee’s Office, according to intestacy law (or, for Muslims, Muslim inheritance law).

For families: after a death

Does the family need to tell CPF Board?

For Singapore Citizens and Permanent Residents, no. Deaths are registered with ICA, and CPF Board is notified automatically. If the person who died was a foreigner with a CPF account, the family needs to report the death to CPF Board directly.

If there was a nomination

CPF Board says it will contact the nominees within 10 working days of being informed of the death, with instructions on how to receive the money. Nominees can also view a Deceased CPF Member Dashboard, generally from around the same time.

In many cases no application is needed. CPF Board pays out automatically where a nominee:

• is a Singapore Citizen or Permanent Resident,
• is 18 or older,
• has a local residential address, and
• has a bank account registered with CPF Board.

Nominees who do not meet all of these will be told what they need to do. Nominees do not pay any charges to claim the savings.

If there was no nomination

Without a valid nomination, the CPF savings are transferred to the Public Trustee’s Office. CPF Board says this transfer typically takes place within 17 working days of it being notified of the death.

The Public Trustee’s Office then contacts the people entitled under intestacy law (or Muslim inheritance law) and explains how to claim. Family members will need to provide documents proving their relationship to the person who died. CPF Board says the whole process can take up to six months, and an administrative fee is deducted from the CPF savings.

Note that this route follows the fixed rules of intestacy law, not what the person might have wanted. Our guide Do you need a will in Singapore? sets out in outline who inherits under those rules.

What is paid out

A CPF nomination (or, without one, the Public Trustee distribution) covers:

• savings in the Ordinary, Special, MediSave and Retirement Accounts,
• any CPF LIFE premium balance, and
• discounted Singtel shares.

It does not cover:

• property bought using CPF savings,
• Dependants’ Protection Scheme payouts, or
• investments made under the CPF Investment Scheme.

Property and other assets go through the estate in the usual way. See Probate or letters of administration for how that works, and the estate section of our first steps guide for what to sort out first.

Housing and loans

CPF Board lists a few automatic steps on a member’s death. Where the member was covered by the Home Protection Scheme, the Board assesses the claim itself and pays any benefit to the mortgagee to settle the outstanding housing loan. The requirement to refund CPF money used for housing is waived automatically. CPF savings used for education loans, and any interest on them, do not need to be repaid.

For readers thinking ahead: making a nomination

Why it matters

A nomination lets you decide who receives your CPF savings and in what shares. Compared with no nomination, it avoids the Public Trustee route, its administrative fee and the longer wait. Making one is free.

Because a will cannot deal with CPF, the two work side by side. A will covers your estate; a nomination covers your CPF savings. Many people need both.

How to make one online

You can nominate online at the CPF website using Singpass. You will need:

• each nominee’s full name, NRIC or FIN, mailing address and email,
• two witnesses, with their details, including a Singapore-registered mobile number.

Rules for witnesses

CPF Board sets out the following for online nominations:

• Witnesses must be 21 or older and must not lack mental capacity.
• They need Singpass to log in and complete the witnessing.
• Neither you nor any of your nominees can be a witness.
• Witnesses must complete the witnessing within 7 days of your submission.
• Witnesses only confirm that you intend to make a nomination. They cannot see who you have nominated.

Once both witnesses have done their part, CPF Board says the nomination is processed within four working days. You can also make a nomination in person at a ServiceSG Centre or CPF Service Centre.

Changing or cancelling a nomination

To change or cancel a nomination, you make a new one. CPF Board says the new nomination supersedes the earlier one. CPF Board also suggests reviewing your nomination details every year.

Marriage and divorce

This catches many people out. Marriage automatically revokes any existing CPF nomination. If you nominated someone before you married, that nomination no longer stands, and you need to make a new one.

Divorce, on the other hand, does not revoke a nomination. If you divorce and do not want your former spouse to receive your CPF savings, you need to make a new nomination yourself.

Insurance nominations are separate again

Life insurance policies can also carry their own nominations, under the Insurance Act. MoneySense explains that a trust nomination takes precedence over a will, while a revocable nomination lets the insurer pay out according to whichever was the last document made before death, the nomination or the will. Check with your insurer what kind of nomination, if any, is on each policy.

A short checklist

• Log in to the CPF website with Singpass and check whether you have a nomination, and who it names.
• If you have married since you made it, make a new one.
• If you have divorced, or your wishes have changed, make a new one.
• Make or update your will for everything outside CPF.
• Tell your family where to find your will and insurance papers.