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By CARINE LEE

 

The Central Provident Fund (CPF) Board on Tuesday announced that beginning January 1, 2012, approximately 362,500 CPF members will enjoy an average savings of 12 per cent on their annual Home Protection Scheme (HPS) premiums.

 

‘Members who join the HPS scheme on or after January 1, 2012 will get to enjoy the new rates, while existing members paying annual HPS premiums will pay the lower premiums when they renew or adjust their HPS coverage on or after January 1, 2012,’ said the CPF Board.

Existing members who are eligible for the lower premium rates will be notified via letters from the CPF Board upon successful payment of their next premium due on or after January 1, 2012.

Members can also check their new HPS premiums from their online CPF Statement of Accounts in the month of premium deduction by logging in with their Singpass to the CPF website.

Potential home-buyers can estimate the new HPS premiums on the HPS calculator on the CPF website from January 1, 2012.

Source: Business Times 20 Dec 2011