Most people spend decades building up their Central Provident Fund (CPF) savings. Very few people spend an hour deciding where their savings will go after they die. CPF enrollment is that decision, and without it, your savings will not follow your wishes. They follow a different set of rules entirely, and the result may not look as you intended.
What is CPF enrollment and why does it matter
Simply put, CPF nomination tells the CPF Board who your CPF savings go to after you pass, and how much each of them gets. The CPF balance is outside your assets. This means that your wishes have no effect on them. If you have nominated, your savings go directly to the people nominated by you in the proportion specified by you. If you haven’t done so, they go to the Office of the Public Trustee, which distributes them according to intestate rules – based on a certain framework…
