Unclaimed CPF monies grow to over $200m

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

The amount of unclaimed monies left with the Insolvency and Public Trustee's Office has grown to $211 million over the last six years.

Largely made up of Central Provident Fund (CPF) monies, the sum was left by people who died without nominating a beneficiary.

In all, about $240 million in unclaimed monies was left with various government agencies over the last six years. The remaining $29 million involves tax refunds, levy bonds and immigration deposits.

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Correction note: This article has been edited for clarity.

A version of this article appeared in the print edition of The Straits Times on October 21, 2019, with the headline 'Unclaimed CPF monies grow to over $200m'. Print Edition | Subscribe