What rules and responsibilities apply to my ex-spouse when my CPF investments are transferred to them as part of our divorce settlement?
When your CPF investments are transferred to your ex-spouse, the following rules and responsibilities apply:
- CPF Investment Scheme Rules: The transferred investments will be subject to the CPF Investment Scheme regulations. For example:
- Adherence to stock and gold limits
- Types of investments allowed using CPF savings
These rules are in place to safeguard your ex-spouse's retirement adequacy.
- Sale Proceeds: If your ex-spouse sells the transferred investments, the proceeds will be credited to their respective CPF accounts. These funds will be subject to CPF rules and can only be withdrawn when your ex-spouse meets the withdrawal conditions under Sections 15 or 27 of the CPF Act.
- Bank Charges: Your ex-spouse will be responsible for paying any bank charges associated with the investments they continue to hold in their CPFIS-OA Investment Account. These charges can be paid using their Ordinary Account savings.
It is important for both parties to understand these implications to ensure proper management of the transferred investments and compliance with CPF rules.
This information is sourced from CPF
Related questions
Under a transfer order, do I need to set aside my retirement sum before my ex-spouse can receive their entitlement?
Why do I have to effect the transfer or sale of investments under the division of CPF savings in a divorce? What happens if I do not come forward to effect the transfer or sale of investments?
Can I specify the CPF account in which my ex-spouse is to receive the CPF savings under a transfer order?
What are your obligations after the court order is granted, before and following the transfer or payment of CPF savings to your ex-spouse in a divorce?
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