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08 Jan 2020 


Buying a house can be an exciting milestone. During the search for your dream abode, you might have come across CPF’s Home Protection Scheme (HPS).


In case this is all new to you, HPS is a mortgage-reducing insurance that protects you and your loved ones from losing your HDB flat in the event of death, terminal illness, or total permanent disability. Here are the benefits of HPS:

Infographic on the 3 benefits of the Home Protection Scheme.

1. Protection against losing your flat


The sum assured will be paid in the event of death, terminal illness, or total permanent disability, which will go towards taking care of the housing loan. Your loved ones can have peace of mind, as they will not have to worry about keeping up with your share of the loan repayments and risk losing the flat.


HPS provides protection until the age of 65, or until your housing loan is fully paid off, whichever is earlier.

2. Affordable premium


HPS is designed to be affordable for all CPF members. If you are using your Ordinary Account (OA) savings to pay for your monthly housing loan repayments, you will need to be insured under HPS.


Even if you are not using your CPF monies to service your housing loan, you can still choose to be covered under HPS.


You can use the HPS Premium Calculator to estimate the annual premium for your coverage when planning the finances for your home.

3. ​Ease of premium payments


HPS premium is payable in full with your OA savings and will be automatically deducted from your CPF annually. This provides convenience and helps to ensure that there will be no lapses in your coverage.


If there are insufficient funds in your OA for the payment of your HPS premium, you will be notified and you can make payment via e-Cashier (using PayNow), or cash at any Singapore Post Office branch offices. 


Alternatively, your spouse, parent, child, or sibling who co-owns the flat with you, can also authorise CPF Board to use his/her OA savings to pay your premium shortfall.


Find out more about the Home Protection Scheme.


Information accurate as at 8/1/2020.​