Nominate a cpf beneficiary to make it easier for your family

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Members of the public are advised to make nominations for their central provident fund (CPF) monies as early as possible, after CPF monies left unclaimed with the Insolvency and Public Trustee’s Office over the last six years reached a total of S$211 million.

The Straits Times reported that the bulk of these unclaimed monies belonged to dead people who did not nominate anyone to receive their CPF funds.

According to the Ministry of Finance, the monies are said to be unclaimed if owners are uncontactable after repeated attempts by the agencies to do so.

All valid claims will be repaid, regardless of how long the monies have been held.

According to the Ministry of Finance and the Ministry of Law, about S$240 million in unclaimed monies was left with the government over the last six years

 

https://mothership.sg/2019/10/nominate-benefactor-early-unclaimed-cpf-money-211-million/