I am born in 1979 or earlier. Can I choose to receive the CareShield Life participation incentive as one lump sum?
The participation incentive was provided to Singapore Citizens who joined and were covered under CareShield life by 31 December 2024. It was introduced to encourage Singapore Citizens born in 1979 or earlier to join CareShield Life by helping to offset the annual premiums payable. As such, the Government has designed it to be spread over 10 years of premium payment. It cannot be received as one lump sum payment.
This information is sourced from CPF
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