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|IMPORTANT ON CPF Feedback on Members' Account and Nomination|
|Thursday, 26 May 2011 02:44|
IMPORTANT ON CPF Feedback on Members' Account and Nomination
I received a CPF-related email which I thought was vitally important for Singaporeans, and was cautioned by a smart friend to check it out with the CPF first. So I sent in my enquiry yesterday as follows:-
"Is this true? This is being passed around on the internet.
With regard to our CPF funds, most of us would have submitted our nomination form to the CPF Board that in the event of our eternal absence, our loved ones would receive all the funds therein. However, a friend’s family recently found out that the MediSave funds in the CPF account is not included in the Nomination - ie the nomination that we have done is ONLY for the ORDINARY ACCOUNT - we have to make a SEPARATE NOMINATION for the Medisave funds - otherwise the funds are AUTOMATICALLY given to the CHARITIES and unfortunately most Singaporeans are not aware or ignorant of such policy."
Promptly today I received this reply:-
We refer to your email dated 25 May 2011. Please be informed that the information relating to CPF Medisave account savings is not true. The Board is aware and has taken prompt action to mitigate the impact of this wrongful information released via email to the public. We wish to assure you that there is no change to the existing CPF nomination rules. Savings in the Ordinary, Special, Medisave and Retirement accounts, as well as discounted Singtel shares are covered under CPF nomination.
Please visit our CPF website for information (www.cpf.gov.sg). In this regard, CPF members do not need to make a separate nomination for savings in the medisave account and we would appreciate it if you