What happens if CPF monies in member's Account are not enough for the transfer to ex-spouse's designated Account under division of CPF monies in matrimonial proceedings?
If CPF monies in member's Account are not enough for the transfer to ex-spouse's designated Account under division of CPF monies in matrimonial proceedings, the Board may only effect the transfers based on the available balances in the member's CPF Account upon receipt of the court order. The ex-spouse may seek his lawyers' advice on the remedies for the shortfall amount.
Before the Court grants the court order, the member's latest CPF statement should be made available to the Court so that it has up-to-date information on the amount of CPF monies available for the transfer. Any planned changes to the member's CPF Account status (e.g. deductions for housing payments) should also be taken into consideration.
