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Old 28-07-2005, 11:49 AM
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Re: All you need to know about "Marriage/Divorce" under the SG Law

Is it possible to get a share of my spouse's CPF monies? How?

CPF monies may be a matrimonial asset that can be divided by the court if it falls within the definition of a "matrimonial asset". If your spouse is already able to withdraw his CPF funds, the money may be treated like any other matrimonial asset (for example, money in a bank account) which is available for immediate division. If, however, your spouse is not eligible to withdraw the money, the court may still take into consideration the CPF fund and award you a greater share of the other matrimonial assets. The difficulty arises when the CPF money is the main matrimonial asset and there is no other asset for division. In such a case, you may apply to "charge" a portion of the CPF money. This means that the CPF Board will "freeze" the amount of money that has been charged and pay to you this sum when your spouse is eligible to withdraw his CPF fund. You should note, however, that this charge is subject to various CPF schemes and regulations, such as the Minimum Sum Scheme (under which your spouse would be obliged to retain a certain sum in his CPF account). If there is insufficient money in his CPF account to make up the Minimum Sum as well as satisfy your charge, then the Minimum Sum may take priority, and CPF may pay you the balance amount (i.e. the amount left over in the CPF account after setting aside the Minimum Sum), rather than the full amount of your charge. You may wish to seek legal advice on the various CPF schemes and regulations, as this is a relatively complex area of the law.
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