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From 1 April 2021, Central Provident Fund (CPF) members under the Dependants’ Protection Scheme (DPS) will enjoy a higher sum assured of $70,000 at more attractive premiums. The scheme will also cover members up to age 65. Currently, the sum assured is $46,000 and DPS coverage is capped at age 60.


DPS is a term-life insurance scheme that provides insured members and their families with a sum of money to get through the first few years should the insured members pass away, or suffer from terminal illness or total permanent disability. There are about 1.9 million CPF members with an existing DPS cover as at end 2019.


Group Director (Housing & Investment Group) Ms Peh Er Yan said, “DPS is meant to protect the member and his dependants during his working years. The higher sum assured of $70,000, which is approximately three years of salary for a lower-income member, will provide greater financial support for the insured members and their family members in the event of a claim. This higher sum assured also comes with premiums which are more attractive than the current ones.” On average, there is a reduction of about 47% for the premium per thousand-dollar sum assured.


The maximum age of coverage will also be increased to cover members above age 60 and up to age 65, at a lower sum assured of $55,000. Members in this age group are likely to have accumulated sufficient CPF savings or other savings that can be bequeathed to their dependants to help them tide over a reasonable period of time in the event of a claim. They are also more likely to have fewer dependants who are reliant on their income, e.g. children who have reached adulthood. This strikes a balance between the member’s need for financial protection and conserving more of their CPF for higher retirement payouts.


Appointment of Great Eastern Life to administer DPS for five years


These enhancements to DPS are part of a review to better meet the needs of CPF members. Through a competitive tender process, Great Eastern Life has been awarded a five-year contract to administer the DPS starting from 1 April 2021, as they offered the most attractive premiums for members.


Mr Khor Hock Seng, Group Chief Executive Officer, Great Eastern said: “We are pleased that the CPF Board has appointed Great Eastern as the insurer for the new Dependants’ Protection Scheme. We will do our utmost to support DPS members with their protection needs and we look forward to partnering CPF Board to deliver quality service and a positive customer experience to the 1.9 million existing and new members under the scheme.”


Please refer to Annex A for the detailed changes to DPS premium rates.


No action is required for members with an active DPS cover as at 1 April 2021. Their DPS covers will continue to be renewed automatically on an annual basis before their 65th birthday. Members insured under NTUC Income will be moved to Great Eastern Life when it takes over the sole administration of DPS. Members will be notified of the changes to their premiums either through SMS, email or hardcopy letter from February 2021. Those insured under NTUC Income will be provided with nomination forms and will need to make a new DPS nomination. Members who are already insured under Great Eastern Life need not submit a new nomination, unless they wish to nominate new beneficiaries.


Members aged 60 and above but below 65 years, whose DPS covers have ceased or will cease before 1 April 2021, can rejoin DPS by applying directly with the appointed insurer, Great Eastern Life, when the new contract comes into effect.


Please refer to Annex B for more details about the changes to DPS features under the current and new contract.


To find out more about DPS, please visit Great Eastern Life’s website or the CPF website.


Members with enquiries may contact Great Eastern Life at 6839-4565 or email the Great Eastern Life’s customer service through They may also call the CPF Call Centre at 1800-227-1188 or email us through

Annex A


Comparison of DPS premium rates


Age* (Last birthday) Yearly premium for $46,000 sum assured (Before 1 April 2021) Yearly premium for $70,000 sum assured (From 1 April 2021^)
34 years and below $36 $18
35-39 years $48 $30
40-44 years $84 $50
45-49 years $144 $93
50-54 years $228 $188
55- 59 years $260 $298
60-64 years Not applicable $298 (for sum assured of $55,000)


*A DPS cover is for a period of one year and will be automatically renewed annually up to the age limit of 65 from 1 April 2021. For example, if a member is currently automatically extended a DPS cover at the age of 59 years and six months, his cover will cease one year later. Under the new contract, his DPS cover will continue to be renewed annually until he enters the last year of coverage at 64 years and six months. His cover will end when he turns 65 years and six months, as he has passed the age limit of 65.

^New yearly premium would be deducted on member's DPS policy anniversary.

Annex B


Comparison of DPS features


  Current From 1 April 2021
Sum assured


(for members aged 21 and above to 60)


(for members aged 21 and above to 60)



(for members aged 60 and above to 65)

Automatic extension of DPS cover CPF members aged 21 to below 60 years, when they receive CPF contribution CPF members aged 21 to below 65 years, when they receive CPF contribution
Automatic annual renewal Members with an active DPS cover, before their 60th birthday Members with an active DPS cover on or after 1 April 2021, before their 65th birthday
Can apply to join DPS Members aged 16 and above but below 60 Members aged 16 and above but below 65
Insurer(s) Great Eastern Life & NTUC Income Great Eastern Life