Efforts Made to Return Unclaimed CPF Monies to Family Members

Assoc Prof Daniel Goh Pei Siong asked the Minister for Law (a) whether all efforts have been taken to return the over $200 million in unclaimed CPF monies with no nomination to family members; and (b) whether the paperwork can be made easier for family members to apply to claim the monies.

Mr Speaker, when CPF members do not make valid CPF nominations and pass away, the un-nominated CPF monies are transferred to the Public Trustee’s Office, or PTO, for disbursement to the legally entitled beneficiaries. PTO will contact individuals who are known to possibly have an interest in the deceased member's un-nominated CPF monies and also invite them to make an application claim these un-nominated funds.

These persons include: (a) persons who approach CPF Board to inform the CPF Board of the deceased's passing, (b) the death informant listed in ICA's records, and (c) the deceased's family members as reflected in ICA's records. PTO managed to distribute about 88% of the un-nominated CPF monies it received from CPF Board over the last five years.

As at end 2018, unclaimed un-nominated CPF monies make up $132 million of the $211 million in unclaimed monies held by PTO. PTO continues to make efforts to locate legally entitled beneficiaries of unclaimed monies and they do so by making phone calls, writing to them on several occasions and also, in some cases, making house visits.

We would like to encourage individuals who may be legally entitled to the monies to submit their application. There is no time limit for the application – individuals may come forward at any time to make their claim. To ensure that the monies are distributed to the rightful applicants, PTO requires that an applicant produce documentary proof to support his claim and also the eligibility entitlement. Where necessary, PTO will assist the applicant to obtain necessary documents from the relevant agencies, by making a request on behalf of an applicant, or supporting his request for information.

Assoc Prof Daniel Goh Pei Siong (Non-Constituency Member): I thank the Senior Minister of State. Regarding those who have been contacted through phone or through house visits in a very personalised way, we can see that there are some interactions between the officers and the possible claimants. What are the reasons why they did not eventually make the claim?

I think in most cases and I can check the information, but if you reach out to someone who is legally entitled to and is able to substantiate that position, in most cases, those persons will step forward to make to make the claim. The numbers that we see, unclaimed or the un-nominated sums, relate to persons we were not able to trace in the manner which you heard Minister for Manpower state earlier.