Do you know that your CPF can now be nominated online?
I've actually done mine like 5years ago by mailing in the "PHYSICAL FORM" which was the old process.
As you can see, I've done my nomination after my first boy was born. I do practice what I preach! =)
But I conveniently thought I've gotten it all done up!
If it stayed like that, there will be nothing for my second boy.
If it stayed like that, there will be nothing for my second born.
Hence, if you are a parent of a new born or have NOT yet done your CPF nomination, this post is a timely reminder for you!.
I'd share with you how I did mine in awhile....
You need two witnesses to start....
CPF nomination requires TWO WITNESSES!
Prepare TWO that cannot be your beneficiary. It could be your sibling, relative, best friend...
And they need their own singpass.
But unlike traditional signature where they need to be with you, now it's secured digitally.
Which means they can't see the details.
But to me, other assets can be given differently but CPF is best given to immediate family members.
Note: this should not be advice on how to distribute yours! =)
How I did my nomination
CPF monies if nominated can be distributed within 6 weeks.
And they can solve any liquidity needs of the family.
Hence, I will be giving this majority to my spouse to meet liquidity needs. My children are minors and cannot access their share quickly anyway.
If I put both of my children as 1%, in the event my spouse is also not around, I would want them to then get 50% share.
How to get started and ending words =)
You'd need to input the percentages of distribution to your beneficiaries.
Then you'd need to input your witnesses FULL details and their HP and email.
Again, your witness CANNOT be your beneficiary.
Your witnesses will be notified either by sms and email.
I did mine within the day and it was really easy.
Share this post with someone who should see and hope it was helpful!
Last updated on June 21st, 2021 at 08:27 pm