I was issued a bonus sum assured in 2003 and/or 2005. Will it be carried over to my Dependants’ Protection Scheme policy under the newly enhanced scheme?
CPF Board distributed surpluses in the form of bonus sum assured to the Dependants’ Protection Scheme (DPS) members insured before DPS was privatised in 2005. Members can contact their DPS insurer, Great Eastern Life to check if they qualified for the bonus sum assured previously.
To standardise the sum assured for all insured members to the new amount of $70,000 from 1 April 2021 under the newly enhanced DPS, existing members who were eligible for the bonus sum assured will receive a one-time premium rebate in lieu of the bonus sum assured. The one-time rebate has been credited into members’ CPF Ordinary Accounts in May 2021.