SINGAPORE: When Central Provident Fund (CPF) members pass away, their savings will be given to their nominees in cash – and not transferred to their Medisave account as claimed in a message making the rounds on social media.
“There is absolutely no basis to this rumour,” stated a post on the Singapore Government website on Saturday (Jun 17), debunking the message circulating on WhatsApp, SMS and social media.
“The truth is, by default, your nominees will receive your CPF savings in cash when you pass away. This is unless you have opted for a different type of CPF nomination,” it said.
The post added that the rumour was a variation of another false claim that surfaced in 2012.
It added that a CPF nomination gives CPF members the option to specify who will receive their CPF savings upon their death, and how much each nominee should receive.
More details on what a CPF nomination covers, and the types of CPF nomination available, can be found on the CPF website.