What happens to your investments under the CPF Investment Scheme (CPFIS) if you pass away?

Investment proceeds under CPF Investment Scheme (CPFIS) are not covered under the CPF nomination. If you pass away, your investments under the CPFIS and any cash held in his Investment Account with your agent bank will form part of your estate.

The estate administrator/executor may claim these directly from the agent bank for distribution to the beneficiaries of the deceased’s estate.

Upon death, the CPFIS investments and cash in your Investment Account would cease to be protected and might be used to satisfy the deceased member’s creditors’ claim in accordance with the Probate and Administration Act.

What happens to insurance policies under CPF Investment Scheme

You can make an insurance nomination with your insurance companies. Your beneficiaries will receive the proceeds from the CPFIS Insurance policies.

About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

Share 0