Retirement Planning Isn’t Complete Without This One Document

Why a Lasting Power of Attorney (LPA) Is a Quiet Essential in Retirement Planning

When people think about retirement planning, they usually focus on savings, CPF, investments, and insurance. But there’s one document that often gets overlooked — and it can make a huge difference when it matters most.

That document is the Lasting Power of Attorney (LPA).

What Is an LPA, and Why Does It Matter?

An LPA allows you to legally appoint one or more trusted persons (called donees) to make decisions on your behalf if you lose mental capacity in the future — due to illness, stroke, or age-related conditions.

Without an LPA:

• Your family cannot automatically manage your finances

• They may need to apply to court to act on your behalf

• Decisions can be delayed, costly, and emotionally draining

With an LPA:

• Your wishes are clearly documented

• Trusted people can step in smoothly

• Your assets, bills, and care arrangements remain well-managed

In short, an LPA protects your independence today and your dignity tomorrow.

Why an LPA Is Especially Important for Retirement Planning

As we age, the risk of unexpected health events increases. Retirement planning isn’t just about having enough money — it’s also about ensuring continuity and control.

An LPA helps you:

• Safeguard your CPF, bank accounts, and investments

• Ensure bills and medical expenses can be paid on time

• Reduce stress and conflict for your loved ones

• Maintain financial stability even during uncertainty

Think of it as a safety net — not because something will happen, but because life is unpredictable.

How to Make an LPA Nomination in Singapore

Setting up an LPA in Singapore is more straightforward than many people expect. Here’s how it typically works:

1. Choose your donee(s)

   Select one or more trusted individuals (such as a spouse, child, or close family member) to act on your behalf if needed. You can decide whether they act jointly or separately.

2. Decide the scope of authority

   You may appoint your donee(s) to manage:

   • Personal welfare matters (e.g. healthcare decisions), and/or

   • Property and financial affairs (e.g. bank accounts, investments, bills)

3. Apply online via the Office of the Public Guardian (OPG)

   Submit your LPA application through the Office of the Public Guardian website using Singpass.

4. Complete certification

   You’ll need a Certificate Issuer (such as a doctor or lawyer) to certify that you understand the LPA and are doing it voluntarily.

5. Wait for registration

   Once submitted, the LPA goes through a mandatory waiting period before it is officially registered.

The key is to do this while you still have mental capacity — once capacity is lost, it’s too late to create an LPA.

A Timely Reminder: Free LPA Filing Ends March 2026

Here’s an important update many people miss:

👉 The deadline for free LPA filing is 31 March 2026.

After this date, standard application fees will apply. If you’ve been putting it off, this is a great window to act — without extra cost.

Final Thought

A well-planned retirement isn’t just about growing wealth, it’s about protecting it and making sure your wishes are respected.

If you haven’t put an LPA in place yet, now is a good time to consider it, especially while filing is still free.

If you’d like help understanding how LPA fits into your broader retirement and financial plan, WealthDex is here to guide you.