The CPF Mwamba Trust fund was established to address the growing need of the Laptrust scheme surviving beneficiaries to prudently manage payments made to them.
The Trust Fund is established by a grantor/trustor/settlor to provide financial security to an individual, most often a child or grandchild or organizations, such as a charity or other nonprofit organization or employees of an organization.
Retirement benefits schemes are set up under irrevocable trusts; appointed trustees administer the trust as set out in the governing document the Trust Deed & Rules.
The key pillars of the CPF Trust Fund are:
- Minimal upkeep for beneficiaries to facilitate a conducive environment for education