Home Protection Scheme (HPS) premium is automatically deducted from your CPF Ordinary Account (OA) annually.

 

You can check and view the deduction from your CPF account online using your Singpass. The deduction will also be reflected in your Yearly Statement of Account.

 

If your OA balance is not enough to pay the premium, you will be notified to top up your OA within a grace period of two months. If you have incoming working contributions that will be credited into your OA within the grace period and can cover your premium shortfall, you may choose not to take any action. We will deduct the shortfall from your new working contributions.

 

Alternatively, your family member, who is your spouse, parent, child, or sibling, who co-owns the flat with you can authorise the use of their OA savings to pay your premium shortfall.

 

The attempt to deduct premiums occurs weekly for HPS cover renewal and fortnightly for HPS cover issuance during the two-month grace period. HPS cover issuance or renewal will take place once the full premium is successfully deducted from the insured's OA and/or the co-owner's OA (where authorisation has been provided).