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Old 03-04-2019, 03:33 PM
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CPF Nomination Scheme

Q Are there limits on the amount that can be allocated into a nominee's CPF accounts under Enhanced Nomination Scheme (ENS)? What are these limits?
A nominee can receive the bequeathed monies in his Special Account (SA)/Retirement Account (RA) up to the current Full Retirement Sum or Enhanced Retirement Sum and in his MediSave Account (MA) up to the Basic Healthcare Sum (BHS) applicable to the nominee at the time of transfer. These are also the existing limits for the Retirement Sum Topping-Up Scheme and the MediSave Account respectively.

Originally Posted by Unregistered View Post
Can you show us the statement from CPF or direct us to the CPF page that states the limit for bequest into the beneficiaries' CPF accounts?

As far as I know, there is no limit for bequest into a beneficiary CPF account. For eg., if you have $1.5M in your CPF account and you bequest this amount into your beneficiary's CPF account, the money will all go into the beneficiary's OA! No limit! This is because the beneficiary might have already built up his FRS or ERS amount on his own.

The above scenario is very likely to happen for people with high CPF amounts, because they would only be drawing out their yearly interest (about $28K a year) without drawing down their principal. After they passed on, their CPF principals will remain intact at $1.5M (for example) and this can be bequeathed to their loved ones' CPF OA for the loved ones to continue to enjoy the interest, especially if the beneficiaries are above 55 at the time of receiving the bequest!
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