What are the obligations that my ex-spouse assumes when my investments are transferred to him/her under distribution of CPF savings in matrimonial proceedings?
When your investments are transferred to your ex-spouse, he/she will be subjected to the CPF Investment Scheme rules (e.g. investments are subject to stock/gold limits, types of investments CPF savings could be used) so as to ensure his/her own retirement adequacy.
If your ex-spouse sells the transferred investments, the sale proceeds will be credited to his/her Ordinary and/or Special Accounts, where applicable. The amount will be subject to CPF rules and can only be withdrawn when he/she meets the withdrawal conditions under Section 15 of the CPF Act.
Your ex-spouse will have to pay bank charges for the transferred investments that he/she continues to hold in his/her Investment Account. Such charges can be paid using his/her Ordinary Account savings.
