Central Provident Fund (Home Protection Insurance Scheme) Regulations 2024

No. S 281

Central Provident Fund Act 1953

Central Provident Fund
(Home Protection Insurance Scheme)
Regulations 2024

In exercise of the powers conferred by section 39 of the Central Provident Fund Act 1953, the Minister for Manpower makes the following Regulations:

PART 1

PRELIMINARY

Citation and commencement

1.  These Regulations are the Central Provident Fund (Home Protection Insurance Scheme) Regulations 2024 and come into operation on 1 April 2024.

Definitions

2.—(1)  In these Regulations —

“AP cover” means an annual premium insurance cover provided under the Scheme;

“applicable refund” means a refund in accordance with regulation 24;

“approved developer” and “housing accommodation” have the meanings given by section 87 of the Housing and Development Act 1959;

“CPF member” has the same meaning as “member of the Fund” or “member” in section 2(1) of the Act;

“housing loan” means —

(a) a loan obtained by a Scheme member from a Housing Authority or an approved mortgagee for the purchase of a property from the Housing Authority or an approved developer; or

(b) a loan obtained by a Scheme member from a Housing Authority or an approved mortgagee to finance or re‑finance the purchase of a property from the Housing Authority or an approved developer;

“insured sum” means the outstanding cover on the death or incapacity of a Scheme member, as the case may be;

“mortgage” includes any charge on a property;

“outstanding cover”, in relation to a Scheme member’s insurance cover under the Scheme on a particular date, means the total amount payable under that insurance cover calculated as of that date in accordance with the applicable Table in the Third Schedule;

“policy year”, in relation to an SP cover or an AP cover, means each period of 12 months since the start of the SP cover or the AP cover, as the case may be;

“property” means a house or flat or any estate or interest in a house or flat purchased by a Scheme member from a Housing Authority, or any housing accommodation or any estate or interest in any housing accommodation purchased by a Scheme member from an approved developer;

“revoked Regulations” means the Central Provident Fund (Home Protection Insurance Scheme) Regulations (Rg 11);

“Scheme” means the Home Protection Insurance Scheme established and maintained by the Board under section 29(1) of the Act;

“SP cover” means a single premium insurance cover provided under the Scheme;

“surrender value”, in relation to a Scheme member’s SP cover on any particular date, is the amount determined in accordance with the applicable Table in the First Schedule for the outstanding cover of that SP cover on that date.

(2)  In these Regulations, a reference to the deduction of a premium by the Board refers to the deduction of the amount of the premium from a member’s account in the Fund under section 32 of the Act.

(3)  In these Regulations (except regulations 4, 11, 11A and 17(3) and (7) and the Second Schedule), a reference to any premium payable by a person for an insurance cover under the Scheme includes a reference to any premium loading payable by the person for the insurance cover.

[S 319/2025 wef 26/05/2025]

PART 2

SINGLE PREMIUM INSURANCE COVER

Application of this Part

3.—(1)  This Part applies to every person who was a Scheme member on 28 February 2001 and remains a Scheme member with regard to a housing loan for the purchase of any property from a Housing Authority and —

(a) who has not adjusted the housing loan on or after 1 March 2001; or

(b) who continues to be covered by an SP cover pursuant to paragraphs (2) and (3), or regulation 11 of the revoked Regulations.

(2)  Subject to paragraph (5), a Scheme member mentioned in regulation 7(1)(a) (or regulation 11(1) of the revoked Regulations) may apply, in any manner that the Board may require, to continue to be covered by an SP cover despite regulation 7 (or regulation 10 of the revoked Regulations).

(3)  If the Board approves an application under paragraph (2) —

(a) the Scheme member’s AP cover under regulation 7(2) (or regulation 10(2) of the revoked Regulations) is cancelled as if it had not been issued and the Board must credit to the Scheme member’s account in the Fund the total amount of premiums paid for that AP cover;

(b) the Board must, subject to any terms and conditions that the Board may impose, cover the Scheme member with an SP cover; and

(c) the Board may recover any applicable refund made under regulation 7(2)(b) (or regulation 10(2) of the revoked Regulations) when that AP cover was issued.

(4)  Every application made under regulation 11 of the revoked Regulations pending immediately before 1 April 2024 is deemed to be an application under paragraph (2).

(5)  Paragraphs (2) and (3) do not apply to a Scheme member who is not a citizen or permanent resident of Singapore.

Premium payment and start of SP cover

4.—(1)  Where the Board deducts or accepts the premium for a member’s SP cover, the SP cover starts —

(a) on the date the premium is payable under regulation 12; or

(b) if the first premium is deducted or accepted after that date, on a date (on or after that date) specified by the Board.

(2)  The Board may deduct or accept the first premium payment or a further premium payment for a member’s SP cover after the date the premium is payable under regulation 12 —

(a) if the Board is satisfied that there is a reasonable excuse for the failure to pay the premium on or before that date; and

(b) even if the member who is insured or to be insured under an SP cover is not in good health or is incapacitated or has died.

(3)  To avoid doubt, despite the first premium payment or a further premium payment for a person’s SP cover being deducted or accepted by the Board on or after 1 March 2001, that person is deemed to be a Scheme member on 28 February 2001 for the purposes of regulations 3 and 7 if the SP cover —

(a) starts before 1 March 2001 pursuant to paragraph (1); and

(b) does not cease before 1 March 2001.

Deemed termination of SP cover under section 29(8) of Act

5.—(1)  Unless the member’s SP cover ceases or is cancelled earlier under these Regulations or had ceased or been cancelled under the revoked Regulations, where the Board is satisfied that the member is not a citizen or permanent resident of Singapore, the member’s SP cover is deemed to be terminated —

(a) if he or she became a Scheme member before 1 March 1995 — at the end of the policy year in which he or she attains 55 years of age; or

(b) if he or she became a Scheme member on or after 1 March 1995 — at the end of the policy year in which he or she attains 60 years of age.

(2)  To avoid doubt, paragraph (1)(a) also applies to a person who became a member of the Scheme before 1 March 1988.

PART 3

ANNUAL PREMIUM INSURANCE COVER

Application of this Part

6.  Subject to regulations 3 and 4, this Part applies to every person who —

(a) became or becomes a Scheme member on or after 1 March 2001; or

(b) has an AP cover pursuant to regulation 7(2)(a), or regulation 10(2) of the revoked Regulations.

Change of SP cover to AP cover

7.—(1)  Subject to regulations 3 and 4, the SP cover of a Scheme member ceases on the following date, as applicable to the person:

(a) where the person was a Scheme member on 28 February 2001 and remains a Scheme member with regard to any property purchased from a Housing Authority —

(i) if the Board adjusts the Scheme member’s insurance cover because the Scheme member’s housing loan is adjusted (whether by a partial repayment of the housing loan, or otherwise) on or after 1 March 2001 —

(A) on the date the Scheme member’s housing loan is adjusted (whether by a partial repayment of the housing loan, or otherwise); or

(B) where the date mentioned in sub-paragraph (A) cannot reasonably be determined by the Board, on a date specified by the Board; or

(ii) if the Board adjusts the Scheme member’s insurance cover on the Scheme member’s application under regulation 25(b) to increase or reduce his or her insurance cover — on the date the Board receives the Scheme member’s application under regulation 25(b);

[S 319/2025 wef 26/05/2025]

(b) where —

(i) the person became a Scheme member before 1 March 1995, remained a Scheme member on 28 February 2001 and attains 55 years of age after 28 February 2001; or

(ii) the person became a Scheme member on or after 1 March 1995, remained a Scheme member on 28 February 2001 and attains 60 years of age after 28 February 2001,

on a date, specified by the Board, in the policy year in which the Scheme member attains the age mentioned in sub‑paragraph (i) or (ii), as the case may be.

(2)  Subject to paragraph (3), where a Scheme member’s SP cover ceases under paragraph (1), the Board must, subject to any terms and conditions that it may impose —

(a) cover the Scheme member under an AP cover; and

(b) make the applicable refund, unless the Board has paid the Scheme member any previous claim under the Scheme.

(3)  Paragraph (2) does not apply to a Scheme member whose SP cover is deemed to be terminated under regulation 5.

Period of AP cover

8.—(1)  The first policy period of an AP cover runs for 12 months starting —

(a) where the Board deducts or accepts the first premium for the AP cover on the date the first premium is payable under regulation 12 (called in this regulation the first date) — on the first date; or

(b) if the Board deducts or accepts the first premium for the AP cover after the first date — a date (on or after the first date) specified by the Board.

(2)  Where the Board deducts or accepts the annual premium for a subsequent policy year, the AP cover is renewed and continues for 12 months from the expiry of the previous policy year.

(3)  Despite regulation 15, if the policy year of a Scheme member’s AP cover in which the Scheme member attains 65 years of age ends before the date of the full redemption of the housing loan or the date of the full discharge of the mortgage of the property (as the case may be), the Scheme member’s AP cover ceases at the end of that policy year.

Payment of annual premiums

9.—(1)  The first premium for a member’s AP cover is payable on the date prescribed by regulation 12(1), (2) or (3), as the case may be.

(2)  The premium for each subsequent policy year of an AP cover is payable annually at the beginning of each policy year, or within any further time that the Board may allow.

(3)  If a Scheme member fails to pay the annual premium for any subsequent policy year of AP cover in accordance with paragraph (2), the Scheme member’s cover under the Scheme is not renewed.

(4)  Where the Board approves the Scheme member’s application to renew the Scheme member’s AP cover for a subsequent policy year despite paragraph (3) and deducts or accepts the annual premium for the subsequent policy year, the Scheme member’s AP cover continues under regulation 8(2), subject to any terms and conditions that the Board may impose.

(5)  The Board may deduct or accept the premium for an AP cover after the date it is payable under paragraph (1) or (2), as the case may be —

(a) only if the Board is satisfied that there is a reasonable excuse for the failure to pay the premium on or before that date; and

(b) even if the member who is insured or to be insured under the AP cover is not in good health or is incapacitated or has died.

(6)  Every application made under regulation 14(4) of the revoked Regulations pending immediately before 1 April 2024 is deemed to be an application mentioned in paragraph (4).

Deemed termination of AP cover under section 29(8) of Act

10.—(1)  Unless the member’s AP cover ceases or is cancelled earlier under these Regulations or had ceased or been cancelled under the revoked Regulations, where the Board becomes satisfied in any policy year that the member is not a citizen or permanent resident of Singapore, the member’s AP cover is deemed to be terminated —

(a) if the policy year starts within the premium holiday period — when the member’s AP cover ceases under regulation 8(3) or 15, whichever is earlier; or

(b) if the policy year starts before the premium holiday period — at the end of the policy year.

(2)  In this regulation —

“premium holiday period” means the last 10% of the total period of a member’s AP policy cover (rounded up to the nearest year);

“total period of a member’s AP policy cover” is the period (inclusive of both the starting date and the ending date) —

(a) starting on the date the first policy period of the AP cover starts as determined under regulation 8(1); and

(b) ending on the earlier of the following dates:

(i) the date the housing loan is fully redeemed or the mortgage fully discharged, as determined under regulation 15(1);

(ii) the last day of the policy year in which the member attains 65 years of age as mentioned in regulation 8(3).

 

Made on 28 March 2024.

NG CHEE KHERN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2024; AG/LEGIS/SL/36/2020/26 Vol. 1]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act 1953).