There are 2 ways the Courts may order a division of CPF savings: transfer orders and charging orders. We transfer or pay upon a court-order specified triggering event.
When we transfer or pay from one party's CPF accounts, this party will have lower CPF balances. As such, their participation in CPF schemes may be impacted and they should make alternative arrangements if necessary.
Transfer order
Under a transfer order, we transfer savings directly from one party's CPF accounts to the receiving party's CPF accounts. Generally speaking, money is transferred to corresponding CPF accounts: from Ordinary Account to Ordinary Account, Special Account to Special Account, and so on.
The transfer of CPF monies can take place without the party setting aside his retirement sum first. The receiving party can use the CPF monies immediately for approved CPF schemes such as housing, investment and education. They may also withdraw the monies when they are eligible.
For a transfer order to work, the receiving party must be a Singapore Citizen or Permanent Resident as at the date of the court order.
