Legacy giving plays a pivotal role in estate planning- the process of determining how your assets will be preserved, managed and allocated according to your wishes. For Singaporeans, the Central Provident Fund (CPF) is an integral part of financial planning, ensuring financial security for retirement. Nominating a charitable organisation to receive your CPF savings can be part of your estate planning, allowing you to contribute to meaningful causes even after your passing. As beneficiaries, education institutions like the National University of Singapore (NUS) can use these gifts to support vital initiatives that shape the future of education, research, and society at large.
The following paragraphs explore why you may want to consider nominating NUS as one of your CPF beneficiaries.
The Importance of Legacy Gifts in Education
A legacy gift, also called a planned or deferred gift, is a contribution arranged during one’s lifetime but allocated to a beneficiary after the donor’s passing. By nominating institutions like NUS as a CPF beneficiary, donors empower the University to enhance student support, expand institutional resources, and fund groundbreaking research initiatives. Moreover, these gifts drive societal development by ensuring future generations in Singapore have access to a quality education. Whether through thoughtfully directed bequests, trusts, wills or other estate planning mechanisms, legacy donors leave a lasting influence that nurtures knowledge, innovation, and leadership.
Why Choose NUS as Your CPF Beneficiary?
Choosing NUS as a beneficiary of your CPF savings offers a distinctive opportunity to make a meaningful and positive contribution.
1. Supporting Educational Excellence
A legacy gift to NUS directly enhances educational excellence by providing students with unparalleled access to state-of-the-art resources, scholarships, and groundbreaking research opportunities. These contributions allow NUS to continue its trajectory of academic innovation, ensuring programmes remain dynamic and relevant in a rapidly evolving world. By supporting NUS Giving through legacy gifts, you help establish a lasting foundation for future generations, empowering them with the tools to excel academically. This support upholds the University’s mission to nurture intellectual curiosity and leadership, reinforcing its commitment to providing top-tier education that aligns with the global challenges of the 21st century.
2. Empowering Future Leaders
Your legacy gift plays a critical role in empowering future leaders at NUS. Financial support allows the University to invest in both students and faculty, giving them the resources and opportunities to grow intellectually and professionally. As a beneficiary of your CPF savings, NUS can cultivate a diverse pool of talent by attracting individuals from varied backgrounds who possess the knowledge and skills needed to drive progress. These future leaders will be equipped to make meaningful societal contributions, whether through scientific discovery, policy innovation, or entrepreneurship. Through thoughtful estate planning, you ensure that your contribution helps shape an influential network of thinkers and doers prepared to address the world’s pressing challenges.
3. Advancing Groundbreaking Research
Contributions from legacy donors provide additional funding for innovative research projects at NUS, enabling students and faculty to explore solutions to global challenges like sustainable development and public health. These contributions help build and maintain world-class laboratories and facilities, sustain research programmes, and support interdisciplinary collaboration. Such funding nurtures creativity, allowing researchers to investigate transformative ideas without financial constraints. By nominating NUS as a beneficiary of your CPF savings, you empower the University to maintain its leadership in research, ensuring faculty and students have the resources needed to address emerging issues with bold, forward-thinking strategies.
4. Fostering Social Mobility in Education
A legacy gift to NUS promotes social mobility in education by providing scholarships and bursaries to students from financially needy backgrounds. Your contribution ensures these students gain access to life-changing educational experiences that help them realise their potential. This assistance not only opens doors to new career opportunities but also helps build a diverse and inclusive academic community at NUS. As a legacy donor, your support plays a crucial role in creating pathways to higher education that enable bright minds to overcome economic barriers and thrive academically, ultimately contributing to a more equitable and vibrant society.
How to Nominate NUS as a Beneficiary of Your CPF Savings
Making NUS one of the beneficiaries of your CPF savings involves a simple yet thoughtful process. Start by obtaining a CPF nomination form from any regional CPF office. On this form, you will specify your desire to direct all or a portion of your CPF savings to NUS. In the presence of two adult witnesses who will also sign the form, confirm your nomination by signing it yourself. Once completed, submit the nomination to the nearest CPF office for processing. Alternatively, you may also make your CPF nominations online as well. Notably, making a CPF nomination is free, and your nominees will not have to pay any charges to claim your CPF savings after your death.
If you did not nominate a CPF beneficiary, your CPF savings will be distributed according to Singapore’s Intestate Succession Act. This standard distribution may not align with your specific desires, potentially missing out on the chance to contribute to initiatives that matter to you.
A Legacy Beyond Your Lifetime
Nominating NUS as one of your CPF beneficiaries ensures that your legacy transcends your lifetime, directly advancing the University’s mission and shaping future leaders. As a legacy donor, your nomination of NUS as your CPF beneficiary reflects the generosity of your values and aspirations, reinforcing your commitment to education and innovation. This lasting influence ensures that NUS can continue to provide high-quality learning, foster research excellence, and nurture emerging leaders long after your lifetime. In this way, your legacy not only supports immediate needs but also contributes to shaping a brighter future for countless students, educators, and researchers, leaving an indelible mark on the world.
NUS Giving facilitates philanthropic contributions that strengthen the University, enabling your legacy gift to create a meaningful impact on education, research, and society at large. Through thoughtful estate planning and by aligning your values with impactful initiatives in education, you can make a lasting difference.
Let us engage in thoughtful conversations about the transformative potential of philanthropy in higher education and how becoming a legacy donor can positively shape the future.
