Oral Anwer to PQ on Dependants' Protection Scheme

NOTICE PAPER NO. 107 OF 2025 FOR THE SITTING ON OR AFTER 14 OCTOBER 2025
QUESTION NO. 481 FOR ORAL ANSWER

MP: Ms Mariam Jaafar

To ask the Minister for Manpower (a) what is the number of CPF members aged 65 to 67 years old who are still in employment; and (b) whether the Government is considering increasing the age limit for the Dependants' Protection Scheme from the current 65 years old.

QUESTION NO. 482 FOR ORAL ANSWER

MP: Ms Mariam Jaafar

To ask the Minister for Manpower for each year in the past three years, what is the number of CPF members below the age of 65 whose Dependants' Protection Scheme coverage has lapsed due to non-payment of premium.

Answer:

1. Mr Speaker, may I have your permission to take Questions 32 and 33 together please, as they are both about the Dependants’ Protection Scheme, or DPS for short.

2. As of 2024, 94,500, or 33% of CPF members aged 65 to 67, are in employment.

3. We regularly review the DPS to ensure that it remains relevant to members. In 2021, we raised the maximum age coverage of the DPS from 60 to 65. In taking this decision, we sought to strike a balance between providing insurance protection for members’ dependants for a longer period and ensuring the adequacy of members’ retirement savings. Raising the maximum coverage age beyond 65 would result in higher premiums due to higher mortality rates after age 65, and hence reduce members’ savings for retirement.

4. The DPS lapse rates have held steady and low at less than 0.2% in the past three years. Members will receive notifications via both SMS and mail if their CPF balances are insufficient and can opt to pay their DPS premiums in cash. Members who have lapsed on their premium payments are given at least 60 days of payment grace period and a final notice before the DPS coverage is terminated. Those who wish to re-join the scheme can subsequently still apply to Great Eastern Life, the current administrator of DPS, to do so.