Parliament is considering changes to the way shares bought using your CPF savings are managed. A Bill introduced on 7 April 2026 proposes to move these shares — known as "designated shares" — from being held by the CPF Board on your behalf, to being placed directly into your own CDP (Central Depository Pte Ltd) account. This is not yet law. The Bill must complete its passage through Parliament before any changes take effect, and a start date has not been announced.
This update is relevant to you if:
- You have used your CPF savings to buy shares through the CPF Investment Scheme (CPFIS)
- Your shares are "designated shares" — meaning shares of approved Singapore-listed companies purchased using money withdrawn from your CPF account
- You have a CDP account, or may need to open one, in your own name
This probably does not affect you if you have never used your CPF savings to invest in shares, or if your CPFIS holdings are only in unit trusts or other non-share products.
Under the proposed changes, here is what is planned to happen once the law takes effect:
1. The CPF Board will announce an "implementation date." On that date, it will instruct CDP to transfer your designated shares.
2. If you already have a CDP direct account in your own sole name: Your shares will be transferred there automatically on the implementation date.
3. If you do not have a CDP direct account: CDP will create a new account called a "designated shares account" in your name to hold your shares temporarily.
While your shares are held in a designated shares account:
- Dividends, sale proceeds, and other payments from those shares will continue to be paid to the CPF Board — just as they are today.
Once your shares are moved to your own CDP direct account:
- They will no longer be subject to the CPFIS rules.
- Dividends and proceeds from those shares would no longer automatically go into your CPF.
There is nothing you need to do right now. The implementation date has not been announced.
- Whether you currently hold designated shares through CPFIS: Log in to your CPF account at www.cpf.gov.sg to review your investment holdings.
- Whether you have an active CDP direct account in your sole name: Check via CDP at www.cdp.sgx.com. If you do not have one, you may wish to consider opening one ahead of the implementation date.
- Watch for future announcements from CPF Board about when these changes will take effect.
If you are unsure how this change may affect your CPF investments or your retirement planning, a MAS-licensed financial adviser can review your CPFIS holdings and help you understand your options. The CPF Board can also be contacted directly at www.cpf.gov.sg for questions about your specific account.