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Saktiandi Supaat on Central Provident Fund (Amendment) Bill

How will the distribution of unnominated Central Provident Fund (CPF) monies to beneficiaries be simplified and speeded up? MP Saktiandi Supaat sought more details on the proposed changes in Parliament on Tuesday (Nov 2). He also asked how long it usually takes for monies to go to beneficiaries after a member’s death, bearing in mind the interest that could be lost. Noting that a recent Mercer CFA Institute index graded Singapore’s CPF system as being sound, with areas for improvement, Mr Saktiandi said the difficulty of tapping large sums of CPF savings in times of need remains a “significant pain point”. He called on the Government to introduce more flexibility.

Saktiandi Supaat on Central Provident Fund (Amendment) Bill

02 Nov 2021 12:58pm

How will the distribution of unnominated Central Provident Fund (CPF) monies to beneficiaries be simplified and speeded up? MP Saktiandi Supaat sought more details on the proposed changes in Parliament on Tuesday (Nov 2). He also asked how long it usually takes for monies to go to beneficiaries after a member’s death, bearing in mind the interest that could be lost. Noting that a recent Mercer CFA Institute index graded Singapore’s CPF system as being sound, with areas for improvement, Mr Saktiandi said the difficulty of tapping large sums of CPF savings in times of need remains a “significant pain point”. He called on the Government to introduce more flexibility.

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