Important to make yr CPF nomination.

[mummy1234]

Don't forget. Very important.

 

[dork32]

Don't forget. Very important.

not very important. if no nomination, money will go to public trustee b4 going to nok. a bit more troublesome.

 

[polyglob]

not very important. if no nomination, money will go to public trustee b4 going to nok. a bit more troublesome.

PTO charges admin fee and the entire process is more hassle => costs more money and time.

I was in Japan on holiday last week. The public transport reminder announcements are interesting - "Please take care blah blah so that you do not inconvenience others." The focus is not you might hurt yourself or what, but that you might cause trouble for other people.

I see CPF nomination the same. Easy to do and doing it precludes one money problem for your family when you die.

 

[peppermint7]

The public is advised to make nominations as early as possible, as without a nomination, the beneficiaries will have to pay a fee to the PTO in order for the monies to be administered to them.

The PTO charges 2.4 per cent for the first S$1,000, 1.5 per cent for the next S$9,000, and 0.75 per cent for the next S$240,000, for administration of unnominated CPF monies.

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


Seems like a lot of money to pay if no nomination is done

 

[stillgottheblues]

only kum gong don't make a nomination, dead liao still want to bring trouble and more heart pain to your immediate family members.

 

[item2sell]

You can choose how you would like each of your nominee(s) to receive your CPF savings based on their needs.

Cash Nomination

Your nominee(s) will receive the CPF *savings due to them in cash via cheque or GIRO. This is the default nomination type.

Enhanced Nomination Scheme (ENS) Nomination

Your nominee(s) will receive the CPF savings due to them in their CPF accounts.

Special Needs Savings Scheme (SNSS) Nomination

This scheme allows parents to nominate their children with special needs to receive the CPF savings due to them on a monthly basis.

For more information on ENS/SNSS Nomination, you can email us at member@cpf.gov.sg, or call us at 1800 227 1188. Alternatively, you can visit any of our CPF Service Centres to find out more

PLEASE CHOOSE Enhanced Nomination Scheme (ENS) Nomination.

Let the power of CPF compounding make them "CPF millionaires"