Arising from the merger of Academic Staff Provident Fund Approved Investment Scheme and CPF Investment Scheme, do I need to inform my broker or any of the product providers of my new CPF Investment Account number?
Your agent bank will inform the respective product providers, except stockbrokers, of your new Investment Account number. Agent banks would not be able to inform the stockbrokers on your behalf because agent banks do not know which stockbrokers you have trading accounts with.
You will need to inform all your stockbrokers about your new CPF Investment Scheme Investment Account number. If your stockbrokers use the outdated investment account number, your CPF trades will fail and you will need to settle your trades using cash.
