Forum: Unclaimed monies: CPF Board could be more proactive

Last year alone, the Public Trustee's Office (PTO) received $63.2 million in such unnominated CPF monies belonging to 3,540 individuals.
Last year alone, the Public Trustee's Office (PTO) received $63.2 million in such unnominated CPF monies belonging to 3,540 individuals.ST PHOTO: KUA CHEE SIONG

More can be done to encourage people to nominate the beneficiaries of their Central Provident Fund (CPF) savings.

Perhaps retirees could be recruited to go door to door to speak to CPF members and explain the benefits of nominating beneficiaries and how to go about the process (Unclaimed CPF monies grow to over $200m, Oct 21).

The seniors can be paid for each visit as an incentive.

As the custodian of our savings, the CPF Board should do all it can to ensure that the money does not lie unclaimed when a CPF member dies. The board could be more proactive - that is the socially responsible thing to do.

Mayur Vora

A version of this article appeared in the print edition of The Straits Times on October 24, 2019, with the headline 'Unclaimed monies: CPF Board could be more proactive'. Print Edition | Subscribe