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Half of CPF members aged 65 or older who passed on in 2015 had about $6,800 or less left in their CPF accounts

The Independent
By The Independent

The following is a written answer Singapore’s Manpower Minister gave to a Parliamentary Question on CPF account balances for deceased members from 2010 to 2015

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Half of CPF members aged 65 or older who passed on in 2015 had about $6,800 or less left in their CPF accounts. Table 1 below shows the CPF balances of CPF members aged 65 or older who passed away between 2010 and 2015.

Table 1: CPF Balances of all SC/PRs aged 65 or older who passed away from 2010 to 2015  

In the Year CPF Balances
Mean Median 10thPercentile 90thPercentile
2010 $         8,300  $      3,000  $          100  $      22,200
2011 $         9,800  $      3,500  $          200  $      26,200
2012 $      12,300  $      4,000  $          200  $      30,300
2013 $      13,300  $      4,800  $          300  $      34,800
2014 $      16,100  $      5,700  $          400  $      39,700
2015 $      18,600  $      6,800  $          500  $      45,400

Any unused CPF balances are bequeathed to the deceased member’s nominated beneficiaries. If there are no nominated beneficiaries, the unused CPF balances are distributed under intestacy laws.

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Source: MOM

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