CPF members can nominate their beneficiaries online
PUBLISHED ONJanuary 22, 2020 9:22 AM
SINGAPORE - Those looking to make their Central Provident Fund (CPF) nominations can now do so online.
In a statement on Wednesday (Jan 22), the CPF Board said that the move will bring convenience to CPF members and protect their privacy.
"Under the hard-copy process, details of the nomination such as who the nominees are and the amount to be distributed to them, may inadvertently be seen by the witnesses," the CPF Board said.
"Under the new online nomination mode, nomination details such as the identities of nominees will not be revealed to witnesses."
More than 900 CPF members have used the online nomination service since its launch in January this year.
Members can use the online system using their SingPass account here.
After keying in their witness' NRIC particulars and contact information, the witnesses will receive notification through e-mail or SMS, or both, and must confirm the nomination within seven days.
The nomination will then be processed by the CPF Board and the member will be notified on the status of the nomination through e-mail or SMS, or both.
The CPF Board said CPF nomination allows members to decide how they want their CPF savings to be distributed and the proportion of their savings each nominee will receive.
Members who do not have a CPF nomination will have their CPF savings distributed by the Public Trustee's Office according to the legally entitled beneficiaries. This will also involve a charge.
The board also reminds members that their CPF savings are excluded from the estate and cannot be covered under a will.
This protects the savings from any creditor claims on outstanding loans that CPF members may have when they are alive and also helps ensure that the savings are preserved fully for their loved ones to claim.
This article was first published in The Straits Times. Permission required for reproduction.
