Scheduled Maintenance: CPF digital services will not be available from 4 Mar 2023, 10pm to 5 Mar 2023, 8am.

A Singapore Government Agency Website
Central Provident Fund Board logo
Who we are Tools and services Infohub
You are at
my cpf

Account balances, dashboards, statements, and more.
CPF overview
Growing your savings
Retirement income
Home ownership
Healthcare financing
Account services
Who we are
Tools and services
Infohub
e-Cashier
FAQs
Calculators
Forms
Main menu

my cpf

my cpf Home
My dashboards
My statements
My requests
My activities
My mailbox
my cpf

My dashboards

Retirement
Home ownership
Healthcare
Providing for your loved ones
Self-employment
Investment
Education
Child
my cpf

My statements

Contribution history
Transaction history
Yearly Statement of Account
Main menu

CPF overview

Find out more
Main menu

Growing your savings

Learn more
CPF contributions
More ways to save
Investments and interest
Government support
Growing your savings

CPF contributions

Employees
Self-employed persons
Growing your savings

More ways to save

Voluntary housing refunds
Retirement top-ups and transfers
MediSave top-ups
Matching grant for seniors
Growing your savings

Investments and interest

Investing your CPF
CPF interest rates
Growing your savings

Government support

Workfare Income Supplement
Main menu

Retirement income

Learn more
Monthly payouts
Retirement withdrawals
Government support
Retirement income

Monthly payouts

CPF LIFE
Other payouts
Retirement income

Retirement withdrawals

For immediate needs
For reduced life expectancy
Retirement income

Government support

Silver Support Scheme
Main menu

Home ownership

Learn more
Using CPF for housing
Protecting against losing your home
Planning your housing journey
Main menu

Healthcare financing

Learn more
Using MediSave
MediShield Life
Supplementary coverage
ElderShield
CareShield Life
Main menu

Account services

Learn more
Your account information
Providing for your loved ones
Account closure
Account services

Your account information

View your account balances
Update your contact preferences
Account services

Providing for your loved ones

CPF nomination
Insuring to protect your dependants
Account services

Account closure

When you pass away
When you leave Singapore

Your page is loading.
One moment please.

What share of the Home Protection Scheme cover should I apply for?

Your share of Home Protection Scheme (HPS) cover depends on your share of responsibility to service the monthly housing instalments.

You should be insured under HPS for 100% of the housing loan.

Your share of HPS cover should at least match the proportion of the monthly housing instalment which is payable with your CPF savings and/or cash. The total share of cover per household must add up to at least 100%. However, you and your co-owner(s) can also individually choose to insure a higher share of cover, up to 100%. HPS pays benefits based on the share of the cover of the insured in the event of a claim.

 

A higher share of cover will result in a higher annual premium which is deducted from your CPF Ordinary Account. As such, please take into account your need for financial protection and long term retirement needs when deciding your share of cover.

Monthly housing instalment = $ 1,500
You are using $1,000 from your CPF and $200 cash.
Your co-owner is paying $300 from his CPF to service the loan.

 

Your share of the cover should be at least:
$1,200 / $1,500 x 100% = 80%

 

You can however, opt for up to 100% share of cover. 

 

Your co-owner's share of the cover should be at least:
$300 / $1,500 x 100% = 20%

 

Your co-owner can also opt for up to 100% share of cover.