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What happens to your CPF savings when you pass away?

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Most coffeeshop conversations about the Central Provident Fund (CPF) are laiden with negative vibes.

This is even more apparent when it icomes close to the general elections date.

With the advancement of social media and messaging apps like WhatsApp, inaccurate information can spread like wildfire with little validation and consequences.

I chanced upon one of those “fake news” on social media:

"Everybody please note that when we kick the bucket, all our balanced CPF money will not be automatically deposited into our nominated Next-of-kin’s bank account in cash.

CPF board will instead send all your balanced CPF money to your nominated Next-of-kin CPF Medisave Account.”

CPF Notes
Source: www.gov.sg

Having experienced the process of doing so recently, we got to the bottom of this.

What really happens to your loved ones’ CPF after they passed away?

Withdrawing your loved one's CPF

When someone passed away, the method of which his CPF is distributed depends on whether the deceased member made a CPF nomination.

Factor What's next?
Deceased member made a CPF nomination before his passing. CPF will be distributed to the nominees in the percentage proposed.
Deceased member did not make a CPF nomination before his passing. CPF savings will be forwarded to the Public Trustee for distribution.
Distribution will be according to the intestacy laws of Singapore.

For the loved ones of the deceased, here is what you need to do:

  • If the deceased is a Singapore Citizen/ Permanent Resident, there is nothing you need to do. CPF board is automatically notified when the you register his death.
  • If the deceased is a foreigner, report the death to CPF Board either through the mail or visit them at any CPF Service Centres.The mailing address is:

    Central Provident Fund Board
    Withdrawal Schemes Department (WSD)
    238B Thomson Road
    #08-00 Tower B Novena Square
    Singapore 307685

Withdrawing a deceased member’s CPF savings as one of the nominees

Having recently gone through the process as one of the nominees when one of my relative passed away, here is my experience.

My relative did a CPF nomination and assigned me as one of the nominees.

A timeline of how I managed to withdraw a deceased’s CPF savings

  • 10 days after my relative’s passing, I received a letter from the Central Provident Fund (CPF) Board.

    When should I review my CPF Nomination

  • Followed the instruction that was written on the letter.
  • Selected the option to withdraw and filled up all the information required.
  • Her CPF savings were deposited to my bank account as cash. This is about 1 month upon submission.

Step-by-step guide to withdrawing deceased member’s CPF as one of the nominees

The whole process is rather easy.

When should I review my CPF Nomination

Here’s a step-by-step guide to do so:

  • Login to your CPF account using your Singpass.

    When should I review my CPF Nomination

  • Select “My request” on the sidebar.

    When should I review my CPF Nomination

  • After which, select the option, “Withdrawal on Non-Retirement Grounds (Death and Medical Grounds)” and select the option to “Withdraw deceased’s CPF”.

    When should I review my CPF Nomination

  • Make sure you have the following details when filling up the form that is going to come next:
    • Deceased’s name and CPF account number (his/her NRIC number)
    • Deceased’s date of nomination and date of death (in the letter sent to you)
    • Your bank details and your CDP account number (if deceased has discounted Singtel shares)

All about CPF Nomination in 5 minutes

When applying for CPF Nomination, there are 3 types which one can choose from.

  • The most popular Cash Nomination means that nominees will receive your CPF savings in form of a cheque or GIRO.
  • The Enhanced Nomination Scheme transfers your CPF savings to your nominee’s CPF account.
  • The Special Needs Savings Scheme dispatch your savings to your nominees on a monthly basis.

Head down physically to CPF Service Centres

  • Do note that one should book an appointment through the CPF Appointment Service at the CPF website, before heading down.
  • From there, you will need to complete a CPF Nomination Form in the presence of a Customer Service Executives.

Mail the form to CPF

  • Complete the CPF Nomination Form.
  • Sign the completed nomination form in the presence of two witnesses above age 21.
  • If you are overseas, at least one of your witnesses must be a Singaporean, Singapore Permanent Resident or an Official from a Singapore Overseas Mission.
  • Mail it to:
    Central Provident Fund Board
    Robinson Road P.O. Box 3060
    Singapore 905060
  • Mail the form together with a copy of your NRIC/Passport and a copy of both witnesses’ NRIC/Passport.