CPF Inheritance: How It Works, Tips & More!
Updated: Oct 24
Key points
Your Will does not cover your CPF savings. A CPF nomination decides who gets them.
A CPF nomination does not cover property bought with CPF, Dependants' Protection Scheme (DPS) payouts or CPF Investment Scheme investments.
Without a nomination, the Public Trustee distributes your CPF savings under intestacy law or Muslim inheritance law, for a fee and after up to six months.
Marriage cancels an existing CPF nomination. Divorce does not.
Before we talk about how to pass on your CPF or how to inherit CPF from a kin, let's get some basic facts right.
What is CPF?
The Central Provident Fund (CPF) is Singapore’s social security system that helps Singapore Citizens and Permanent Residents set aside funds for retirement.
What are the CPF accounts that I can pass on or inherit from?
In the context of inheritance, CPF has 5 components that you need to care about:
1. Ordinary Account (OA) - Used for retirement, housing and investment
2. MediSave Account (MA) - Your healthcare savings account used for hospitalization expenses and approved medical insurance. You can use MediSave to cover premiums for MediShield Life and other approved medical and long-term care insurance.
3. Special Account (SA) - For old age and investment in retirement-related financial products (members below 55 only).
4. Retirement Account (RA) - For monthly retirement payouts (Age 55 and above)
5. CPF LIFE - A national longevity insurance annuity scheme that gives you a monthly payout for as long as you live, mitigating some risk associated with living too long and potentially outliving your economic assets.
There is also Supplementary Retirement Scheme (SRS) that complements CPF savings but that's not technically CPF.
When you start working, you will start contributing to OA, MA and SA. At age 55, an RA will be created for you and your SA will be closed. Your SA savings move to your RA, up to your Full Retirement Sum, and any balance goes to your OA. Before you turn 65, CPF Board will contact you about your CPF LIFE options. You can start your monthly payouts from 65, or defer them to as late as 70 for higher payouts
What happens to your CPF savings after you pass away?
First thing to know about CPF inheritance is that your will does not cover your CPF savings.
You will need to nominate who to gets your CPF.
But because CPF doesn't form part of your estate, your CPF savings are protected from creditor claims on any outstanding debts.
What does your CPF nomination cover?
Your CPF nomination covers OA, SA, MA, RA, unused CPF Life premiums and discounted Singtel shares. We'll share more on how your CPF gets distributed with and without nomination in later sections.
What does your CPF nomination NOT cover?
Your CPF nomination does not cover properties bought using your CPF savings, payout from Dependents' Protection Scheme (DPS) and investments made under CPF Investment Scheme.
CPF savings used for property
For property held under joint tenancy, your share will pass on to the surviving joint owner(s). For property held as tenants-in-common, your share will form part of your estate and be distributed based on your will or if you don't have a will, based on intestacy law. There is no need to refund the CPF savings used to purchase the property.
Payouts from DPS
If you were insured under this scheme, CPF will inform the insurer and if a DPS nomination has been made, the insurer will send the claim application details to the assigned nominee(s). If no nomination has been made, the details will be sent to your correspondence address. Your family also can make a claim directly by submitting an application to the insurer.
Without a DPS nomination, it follows your Will. If there is no Will, it goes to your proper claimants under the Insurance Act.
Investments in CPF Investment Scheme
The investments will form part of the estate and be distributed based on will or intestacy law. Administrators or executors of the estate can claim investments and cash balances from the product provider or agent bank.
How Is CPF distributed after I pass away?
With CPF nomination,
CPF savings will be distributed to the nominee(s) in the proportion stated;
CPF will get in touch with your nominee(s) to facilitate the distribution of your CPF savings;
Your CPF savings will be distributed to the nominees in cash;
Nominee to decide if discounted Singtel shares should be transferred to nominee's CDP account or sold.
Without nomination,
The CPF savings will be transferred to the Public Trustee for distribution according to intestacy law for non-Muslims, or Muslim inheritance laws for Muslims. An administrative fee is deducted, and it can take up to six months to identify everyone entitled to your CPF savings.
CPF Board will either transfer discounted Singtel shares to deceased's securities account, the estate's securities account or sell the shares as instructed by the executor/administrator.
Some points to note:
Marriage revokes your CPF nomination
If you get married, existing CPF nomination will be revoked and you will need to renominate
Divorce DOES NOT revoke your CPF nomination
If you get divorced, your existing CPF nomination remains. If you have nominated your ex-spouse, your ex-spouse will still get your CPF savings. So remember to change your nomination if you prefer someone else getting your CPF inheritance after the divorce.
What if my CPF nominee dies before me?
If there are any deceased nominees (people you choose to inherit your CPF savings), you can either adjust the share allocation to the surviving nominees or include new nominees.
If you do nothing, the deceased nominee’s share will be distributed to the surviving nominees in the same proportion specified in your nomination. If none of your nominees survive you, your nomination is revoked and your CPF savings go to the Public Trustee and distributed under intestacy or Muslim inheritance laws.
What if a nominee passes away before he/she could receive the CPF inheritance?
The CPF inheritance will be paid out as cash and distributed as part of the deceased nominee’s estate.
Why and How to Nominate your CPF?
Nominating your CPF allows you to decide who gets your CPF savings.Anyone aged 16 and above can make a CPF nomination. You can do it online and it's FREE! Nominate your CPF here.
What are the things to prepare before you nominate your CPF?
Decide who you want to nominate and in what proportion
If your split is not equal, consider explaining why. A short note in Immortalize's Letter of Wishes can help your family understand your decision.
Decide who the two witnesses should be and tell them about your intent
The two witnesses will need to confirm that you have made your nomination willingly. Your witnesses cannot be your nominee or an organization.
Know who can see your CPF information after you die
Your nominees and eligible family members under intestacy law can view your CPF account information after you pass away.
Get ready the following information
Your Singpass
Your nominees' full name (as per NRIC/FIN), NRIC/FIN number, mailing address, email
Your two witnesses' full name (as per NRIC/FIN), NRIC/FIN number, mailing address, email and Singapore registered-mobile number
Once you are ready, head here to nominate!
How to Claim the CPF of a Deceased Family Member?
First, report the demise of a CPF member.
If the deceased was a Singapore Citizen or Permanent Resident, you don’t need to inform CPF Board. CPF board will be notified by the relevant public agency and CPF board will contact the nominees.
If deceased was a foreigner with a CPF account, you need to report the death to CPF Board.
More information here.
Frequently Asked Questions
Q: How is CPF money distributed after death?
A: With a CPF nomination, CPF savings are paid in cash to the nominees in the shares stated. Without a nomination, CPF savings go to the Public Trustee, which distributes them under intestacy law, or Muslim inheritance law for Muslims. An administrative fee is deducted, and identifying everyone entitled can take up to six months.
Q: Can a Will override a CPF nomination?
A: No. CPF savings do not form part of a person's estate, so a Will cannot decide who receives them. Only a CPF nomination can.
Q: Does a CPF nomination cover property, DPS payouts or CPF investments?
A: No. A CPF nomination does not cover property bought with CPF savings, Dependants' Protection Scheme (DPS) payouts or CPF Investment Scheme investments. Property passes by joint tenancy or through the estate, DPS payouts follow a separate DPS nomination with Great Eastern Life, and CPF investments form part of the estate.
Q: Who can see a person's CPF account after they die?
A: After a CPF member passes away, their nominees and eligible family members under intestacy law can view the member's CPF account information.
Q: Are nominated CPF savings paid in cash or into CPF accounts?
A: Nominated CPF savings are paid to nominees in cash. Discounted Singtel shares can be transferred to the nominee's CDP account or sold, with the proceeds paid in cash.
Q: Does an estate need to refund CPF savings used to buy property after the owner dies?
A: No. There is no need to refund the CPF savings used to buy a property after the owner dies. The property, or the proceeds from selling it, is distributed as part of the estate, or passes to the surviving owner under joint tenancy.
Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided is general in nature and may become inaccurate over time. Please consult a professional for advice.
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