CENTRAL PROVIDENT FUNDS (CPF)

Under the CPF Act, CPF monies do not form part of the deceased’s estate and therefore are not covered by a Will. As a working Singaporean, who is also a CPF member, you will have some CPF monies. If you would like to specify who to receive your CPF monies, and how much to receive upon your demise, you should make a CPF nomination. With the nomination, your nominee, upon your demise, can withdraw his or her shares of your CPF monies according to CPF Act (section 20). The CPF Board will pay the money direct to the person or people they nominated (if those people are older than 18).

If you do not make any nomination, your CPF monies will be passed to the public trustee for distribution under intestacy/inheritance law of Singapore. Your CPF monies will also be sent to the public trustee if the person chosen to receive that money is under 18 years old (unless she is a widow). There are also fees charged by Public Trustee when dealing with CPF monies.

Shares of HDB

First, let us understand the type of ownership when it comes to purchasing your flat.

Joint-tenancy – it means the right of survivorship applies. Upon the demise of one of the joint tenant, the surviving tenant takes sole ownership of the whole property.

Tenancy in common – each tenant holds the property in separate and distinct shares. When death occurs, the surviving tenant will only be entitled to his share in the property.

When a person writes a Will to distribute his or her shares of HDB flat, it depends on the ownership he or she is in. If the ownership is joint-tenancy, it will not be valid as surviving owner shall take sole ownership of the flat.

However, if the ownership is in tenancy in common, then his or her shares can be distributed.

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