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How will the enhanced DPS affect you?



DPS also known as Dependent Protection Scheme has been enhanced recently. Let's find out what changed!


What is DPS?

The Dependants’ Protection Scheme is a term-life insurance scheme that currently provides insured members and their family a basic coverage of up to $46,000.


In the event that the insured members suffer from a Terminal Illness, Total Permanent Disability or pass away.

This coverage is effective worldwide.

Under DPS, the sum assured is paid out in the event of:

  • Death

  • Terminal Illness (an illness that a registered medical practitioner under the Medical Registration Act certifies is expected to result in death within 12 months)

  • Total Permanent Disability, where you:

  • Lose the ability to take part in any employment permanently, or

  • Experience the total permanent loss of physical function of both eyes or two limbs or one eye and one limb


What's New?

Recently announced, the Central Provident Fund (CPF) Board has appointed Great Eastern as the insurer to manage the newly enhanced Dependants’ Protection Scheme (DPS) for the next five years. This appointment runs back to back from the existing DPS of which Great Eastern is also an incumbent insurer of the scheme.

DPS will be enhanced to provide policyholders with higher coverage at lower premiums across most of the age bands. The age of coverage will also be increased to protect policyholders till age 65, up from the current age of 60 years.


From 1 April 2021, most CPF members under the Dependants’ Protection Scheme will enjoy lower premiums for a higher sum assured of $70,000.


Summary of new changes:

  • Great Eastern Life will be the sole insurer to administer DPS

  • Increase of sum assured from $46,000 to $70,000

  • Increase of age coverage, to cover members up to age 65


Who is covered?

You will be automatically included under the coverage of Dependants’ Protection Scheme (DPS) as long as you:

  • are between the age of 21 and 60 years old (Note: from 1 April 2021, this will be extended to 65 years instead)

  • are a Singapore Citizen or Permanent Resident (PR)

  • made your first working contribution to the Central Provident Fund (CPF)

*Coverage under DPS is not compulsory.

Insured members who wish to terminate their DPS cover can contact their existing insurer, Great Eastern Life or NTUC Income, to do so by completing the opt out form.


From 1 April 2021, insured members who wish to terminate their DPS cover can contact their new DPS insurer, Great Eastern Life.


Pros of DPS?

  • provides family members with a sum of money in case of unforeseen circumstances

  • can be paid for using your CPF monies, which otherwise would have been illiquid anyway (Might as well right?)

  • premiums are cheaper than most insurance policies when you are 40 years old and below, this is useful because that’s the phase in most Singaporeans’ lives where income is slowly building up and most of us have a lot of financial commitments.

What are the adjusted premiums like?


How are premiums payable?

Premium can be paid using your CPF savings or cash.


If you are using your CPF savings for the premium, the premium will first be deducted from your Ordinary Account (OA).


If you do not have sufficient savings in your OA, the premiums will be deducted from your Special Account (SA).


If you do not have sufficient funds in your CPF account to pay for the DPS premiums, you can pay your insurer in cash.


To find out more information, visit cpf website at https://www.cpf.gov.sg/Members/Schemes/schemes/other-matters/dependants-protection-scheme

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