Singaporeans Who Have not Done Their CPF Nominations

Mr Seah Kian Peng asked the Minister for Manpower to date, how many Singaporeans have not done their CPF nominations and how can this gap be closed.

As of December 2018, about 58% of Central Provident Fund (CPF) members aged 16 and above do not have a valid nomination. Among older members aged 55 and above, 30% do not have a valid nomination. These include members who have never made a nomination, as well as members who made a nomination that was revoked by marriage and did not make a subsequent nomination.

CPF Board will continue to work with its industry and community partners to encourage members to make a nomination through various touchpoints. For example, CPF Board provides information on CPF nomination to industry bodies, such as the Law Society and Life Insurance Association, so that their members, that is, lawyers and insurance agents, can educate their respective clients on the distribution of CPF savings upon death. The Board also encourages members to make a nomination through members' Yearly Statement of Accounts and when they attend the CPF Retirement Planning Service at age 54. These targeted measures are complemented by public education efforts through CPF Board's social media channels, talks, roadshows and website.