Statistics on CPF Members Who Have Made Nominations for Their CPF Savings
Ministry of ManpowerSpeakers
Summary
This question concerns the statistics of Central Provident Fund (CPF) nominations and the outreach strategies used to encourage legacy planning among various age groups. Minister for Manpower Dr Tan See Leng stated that 86% of members aged 65 and above have made nominations compared to 36% for those aged 16 to 64, with no sharp differences observed across races. He noted that the CPF Board promotes nominations through roadshows, heartland campaigns, and personalized reminders triggered by life milestones like marriage. Digital accessibility has been enhanced via a secure online service, while physical assistance is provided at CPF and ServiceSG centres for members who are less digitally savvy. These efforts integrate CPF nominations with other legacy tools like Lasting Powers of Attorney to ensure members' monies are distributed promptly according to their wishes.
Transcript
24 Mr Zhulkarnain Abdul Rahim asked the Minister for Manpower (a) what is the current percentage of CPF members who have made nominations for their CPF accounts with a breakdown by (i) age group and (ii) race; and (b) what are the efforts made to promote the making of CPF nominations especially among the elderly and young adult groups.
Dr Tan See Leng: Making a Central Provident Fund (CPF) nomination allows members’ monies to be distributed more promptly and to beneficiaries in accordance with members’ wishes upon their demise.
Around 80% of members who passed away in 2024 had a nomination. Among members who are alive, older members are understandably more likely to have made a nomination. About 86% of members aged 65 and above have made a CPF nomination compared to 36% among those aged from 16 to 64. Of the members aged from 16 to 64 who have not made a nomination, the majority of them are aged 44 years old and below. Unlike for age, we do not observe sharp differentiations in nomination rates among the different races.
The CPF Board actively encourages members to make their CPF nominations through sustained outreach efforts to engage various demographics, including the elderly and young adult groups. These efforts include publicity campaigns and roadshows in the heartlands conducted together with partner agencies to raise awareness and encourage adoption of legacy planning tools such as CPF nominations, Lasting Powers of Attorney and Advance Care Plans. The CPF Board also sends personalised notifications to remind members to make or review their CPF nominations, especially after major milestones, such as marriage.
The CPF Board has made it more convenient for members to make their nomination through a secure online nomination service. Members who are less digitally savvy can visit our CPF service centres or ServiceSG centres for assistance to make their nomination. With CPF Board’s publicity efforts, more CPF members are making nominations.