The following is a written answer Singapore’s Manpower MinisterĀ gaveĀ 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 Ā
In the Year | CPF Balances | |||
Mean | Median | 10thPercentile | 90thPercentile | |
2010 | $Ā Ā Ā Ā Ā Ā Ā Ā 8,300 | Ā $Ā Ā Ā Ā Ā 3,000 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 100 | Ā $Ā Ā Ā Ā Ā 22,200 |
2011 | $Ā Ā Ā Ā Ā Ā Ā Ā 9,800 | Ā $Ā Ā Ā Ā Ā 3,500 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 200 | Ā $Ā Ā Ā Ā Ā 26,200 |
2012 | $Ā Ā Ā Ā Ā 12,300 | Ā $Ā Ā Ā Ā Ā 4,000 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 200 | Ā $Ā Ā Ā Ā Ā 30,300 |
2013 | $Ā Ā Ā Ā Ā 13,300 | Ā $Ā Ā Ā Ā Ā 4,800 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 300 | Ā $Ā Ā Ā Ā Ā 34,800 |
2014 | $Ā Ā Ā Ā Ā 16,100 | Ā $Ā Ā Ā Ā Ā 5,700 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 400 | Ā $Ā Ā Ā Ā Ā 39,700 |
2015 | $Ā Ā Ā Ā Ā 18,600 | Ā $Ā Ā Ā Ā Ā 6,800 | Ā $Ā Ā Ā Ā Ā Ā Ā Ā Ā 500 | Ā $Ā Ā Ā Ā Ā 45,400 |
Any unused CPF balances are bequeathed to the deceased memberās nominated beneficiaries. If there are no nominated beneficiaries, the unused CPF balances are distributed under intestacy laws.
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Source: MOM