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Change in claims process for dead persons CDP assets
The Straits Times
|November 21, 2024
Relatives of those who die without having made a will now do not need to obtain legal documentation to claim a dead person's assets held with the Central Depository (CDP) if the assets are valued at not more than $5,000.
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The change in the claims process, which took effect on Nov 19, means that relatives of those with assets of $5,000 and below need not incur legal costs that exceed the value of the claim, said Mr Loh Boon Chye, the chief executive officer of Singapore Exchange (SGX) Group.
The change is also expected to reduce the processing time for such claims.
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