Stay updated with breaking news from Dependent Protection Scheme. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Purposeful volunteering by employees and financial representatives makes Great Eastern a force for good. Read more. Read more at straitstimes.com.
The Ordinary Account can be used for housing, investment, insurance and education.
It’s never easy to talk about death. There’s still a stigma around this topic as we are all afraid to face the reality of losing someone we love. And if we have to deal with the loss, dealing with matters like finances would probably be the last thing on our minds. Therefore, having existing knowledge in this area could be...
January 10, 2021 Pixabay In Singapore, we’re trained to think about our long-term future and retirement from the day we start working. This is when we see regular contributions from our monthly wage going into our CPF, namely the Special Account (SA). While our CPF contributions also go into our Ordinary Account (OA) and Medisave Account (MA), these accounts can be used to pay for the downpayment and mortgage of our home, tuition fees for our loved ones and certain insurances such as the Home Protection Scheme (HPS) and Dependent Protection Scheme (DPS) via our OA and medical treatments and...
$298 ($55,000 sum assured) Your yearly DPS premium will increase as you age. That means you will start paying $18 a year up to age 35, with premiums then rising every 5 years up to $298 a year from age 55. Note that DPS premiums remain the same regardless of gender and how long you’ve been on the Scheme. What if I can’t afford my DPS premiums? Dependants’ Protection Scheme premiums can be fully paid from your CPF savings. So if you have sufficient funds in your CPF, you don’t need to worry as your policy will be automatically renewed every year. If you have enough savings in your CPF ...