What happens to my CPF LIFE money when I die?

CPF LIFE Payouts Upon Death

What happens to your CPF LIFE money when you die depends on whether you pass away before or after exhausting the cash savings used to fund your CPF LIFE plan.

Before Payouts Commence (Age 55 to 65)

If you pass away before starting your CPF LIFE payouts (which begin at age 65, or later if deferred), any remaining balance in your Retirement Account (RA) is distributed according to your CPF nomination. This includes the principal amount, accumulated interest, and any government grants, minus any amounts withdrawn at age 55 (CPF Board).

During CPF LIFE Payout Period

CPF LIFE operates on a pooling mechanism. The initial savings you have in your RA when you start payouts (e.g., at age 65) form your personal savings pool. Interest earned after payouts begin goes into the CPF LIFE pool, not your personal account balance.

• If you die before the initial savings are fully paid out: The remaining balance in your personal savings pool is paid out to your CPF beneficiaries according to your nomination. For example, if you start payouts with SGD 300,000 and pass away while the dashboard balance is still positive, the remainder goes to your nominees. Interest credited after payouts start goes to the pool.

• If you die after the initial savings are fully paid out: Once your initial savings are exhausted, your monthly payouts are sustained by the CPF LIFE pool. If you die after this point, there is no remaining balance to be paid out to your beneficiaries (CPF Board).

Nomination Overrides

Your CPF nomination overrides your Will or Trust for CPF savings. However, certain assets are excluded from the nomination: CPF investments (governed by your Will), DPS with Great Eastern (nominate directly with GE), and properties bought using CPF (governed by Will/law).

Withdrawal Limits at Age 65

Note that at age 65, you can withdraw up to 20% of your RA balance (excluding top-ups, transfers, and government grants, minus SGD 5,000). This withdrawn amount is separate from the CPF LIFE payouts you receive monthly.