Central Provident Fund Act 1953 · 2020 Revised Edition · Part 4 · Home Protection Insurance Scheme
32A. Premium loading
Feedback & supportLast amended by an amending law of 2024.
The Board may impose premium loading as a term and condition under section 31(2A) if —
Board
“Board” means the Central Provident Fund Board constituted under section 3;
the person’s assessed risk exceeds the threshold determined by the Board; and
the Board is satisfied that any other criteria determined by the Board, which may affect the person’s health, are met.
If the Board is satisfied that a member’s assessed risk has been reduced, the Board may reduce or waive the premium loading payable by the member.
member
“member of the Fund” or “member” means any person to whose credit any amount is standing in the Fund, or for whom any account in the Fund is maintained for any of the purposes of this Act;
Where the member applies to adjust his or her existing insurance cover under the Scheme, the Board may allow the adjustment with an increase in the amount of premium loading payable by the member if the member’s assessed risk has increased.
Scheme
“Scheme” means the Lifelong Income Scheme established and maintained by the Board under section 27K.
Sections 32 (except for subsection (1)), 33 and 37 apply to a member’s premium loading as if references to premiums include the amount of the member’s premium loading.