You can nominate a trustee (i.e. a natural person) or a trust company to receive your CPF savings as your nominee.
A trust company is a
legal entity which is capable of receiving monies (including CPF savings) in its own right. As such, you can nominate a trust company to receive your CPF savings. One example of such a trust company is the Special Needs Trust Company (SNTC), which can receive CPF savings as a nominee, who will then transfer these CPF savings to the trust funds set up by their clients.
Members should note that when appointing a trustee/trust company as a nominee, the trustee/trust company will receive the CPF monies in their own right.
Members would need to have a separate arrangement (such as a letter of intent or a trust deed) with the trustee/trust company on how to channel their CPF savings to benefit the intended beneficiary.
CPF Board is not in the position to enforce or ensure that the trustee/trust company will use the CPF savings for the benefit of the intended beneficiary. This is strictly a private arrangement between you and the trustee/trust company.
If you require further clarification, you can
write to us for assistance.
