Skip to main content
About Us

Written Answer by Minister for Manpower Dr Tan See Leng to PQ on CPF Members covered under the Home Protection Scheme (HPS) and those rejected due to health conditions

NOTICE PAPER NO. 959 OF 2022 FOR THE SITTING ON OR AFTER 15 FEBRUARY 2022
QUESTION NO. 2496 FOR ORAL ANSWER

MP: Mr Chua Kheng Wee Louis

To ask the Minister for Manpower (a) what is the current number of CPF members who own a HDB flat and are using CPF savings or cash to pay a housing loan, with a breakdown into those (i) covered under the Home Protection Scheme (HPS) and (ii) not covered under the HPS; and (b) what is the number of rejected HPS applications in the last five years due to health conditions.

Answer:

  1. The Home Protection Scheme (HPS) is a mortgage reducing insurance that protects CPF members and their families from losing their HDB flats in the event of the member’s death, terminal illness, or total permanent disability. HPS is required for members who use CPF savings to pay for their HDB housing loans, and optional for members who use cash.
  2. Today, nearly all members who use CPF savings or cash to pay for their HDB housing loans and apply for HPS are covered under the scheme. This includes some with pre-existing medical conditions without premium loading. The majority of remaining members have equivalent private mortgage insurance and hence are not required to be covered under HPS. About 1.2% of applicants are not covered under HPS due to serious pre-existing medical conditions in the last five years.
  3. In line with industry practice, HPS is not extended to applicants with serious pre-existing medical conditions to ensure the affordability of premiums for members and the viability of the scheme. For flat owners who face difficulties with their mortgage repayments, HDB has various assistance measures available to help them.