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Thursday, 27 April 2017

Another Example of CPF Nomination


Read? My CPF Nomination Experience


Uncle8888 nominated 100% to Auntie8888

Auntie8888 nominated to her three children : 34%, 34% and 32% 

There is valid reason for doing this form of nomination instead of spouse nominating each other! Guess why?


34%, 34% and 32% (as 33.33% still cannot add up to 100.00% so CPF System disallow)


When it is about money; we still need to count to the 2 decimal points. 

When we paid for services or goods; we count down to decimal points of the dollar. Right?

We don't say never mind and walk away without taking that 5 cts or 10 cts change. Right? Why no agar agar and walk away?


9 comments:

  1. CW,

    LOL!

    CPF has just "forced" you to do rounding up and you still go about 2 decimal places?

    Better do some "compensation" to that one child who got 2% less ;)

    When I take cab, I often say, "Keep the change."

    During my weekend gig at Howard Storage World, quite a lot of customers walk away without taking the 5 cents or 10 cents change ;)


    Yes, it only you.

    ReplyDelete
  2. Easy reason lorrr .... if (touch wood) both you & wife up lorry same time, then your CPF 1st go to her, then her CPF go to the kids.... Ehh wait a minute, your CPF will form part of her estate 1st, so that means her Will must specify similar to her CPF Nomination as well. Your Will must also follow same tactic as your CPF Nomination right? Never mind, me mumbling nonsense.

    Not nonsense: When 2 persons die at same time, e.g. plane crash, for Will & inheritance sake, the law presumes the older person to die 1st, followed by the younger person. That's why both should have Wills & Nominations done properly.

    BTW, if wife is older than hubby then will be opposite of Uncle Createwealth's method?

    As for partitioning, why not 33.34%, 33.33% and 33.33%?
    The one who got extra 0.01% can blanja lifetime kopi/teh to the other 2 siblings (or X number of years depending how much 0.01% is haha).

    ReplyDelete
    Replies
    1. "your CPF will form part of her estate 1st, so that means her Will must specify similar to her CPF Nomination as well. Your Will must also follow same tactic as your CPF Nomination"

      That is Right!

      Delete
    2. Can CPF nominated sum be paid to an estate (as stipulated by a will)?

      Delete
  3. Can a will or CPF's nomination(should not be the case as she is still yet to possess the nominated CPF money) use to distribute an Auntie's nominated CPF's money from her hubby which she has not yet come into possession?

    How?

    ReplyDelete
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    ReplyDelete
  5. For my cpf nomination, 90% to wife, 9% to child, 1% to brother. In the event both parents are gone, cpf will allocate to the surviving ppl so child gets 90% and brother gets 10%. In the event the family of 3 is gone, brother gets 100%

    ReplyDelete
  6. For my cpf nomination, 90% to wife, 9% to child, 1% to brother. In the event both parents are gone, cpf will allocate to the surviving ppl so child gets 90% and brother gets 10%. In the event the family of 3 is gone, brother gets 100%

    ReplyDelete
  7. Thanks for the reminder.

    Is there a possibility of A 90%, B 10%, C 0% ?

    If happens A & B are gone at the same time, then C get 100%

    C can be a charity organisation or xxx.

    ReplyDelete

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