Central Provident Fund Act 1953 · 2020 Revised Edition · Part 5 · Dependants’ Protection Insurance Scheme
42. Persons insured under Scheme
Feedback & supportLast amended by an amending law of 2016.
Subject to the provisions of this Part, every member of the Fund for whom any contribution has been paid into the Fund on or after 14 May 1989 is insured under the Scheme.
member of the Fund
“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;
Subsection (1) does not apply to —
any member of the Fund who has not attained the age of 16 years or who has attained the age of 60 years or such other age as the Minister may in either case prescribe;
any member of the Fund who is neither a citizen nor a permanent resident of Singapore;
any member of the Fund who has lodged a written notice under subsection (3) stating that he or she does not wish to be insured under the Scheme; and
any member or class of members of the Fund whom the Minister may, by notification in the Gazette, specify.
Any person referred to in subsection (1) who does not wish to be insured under the Scheme may lodge a written notice in the prescribed manner stating that he or she does not wish to be insured under the Scheme.
Scheme
“Scheme” means the Lifelong Income Scheme established and maintained by the Board under section 27K.
Despite subsection (2) but without affecting section 43A, any member of the Fund who is not insured under the Scheme may apply in the prescribed manner to be insured under the Scheme.
The Board or an appointed insurer (as the case may be) may approve any application under subsection (4) in the prescribed manner.
Board
“Board” means the Central Provident Fund Board constituted under section 3;
The Board or an appointed insurer (as the case may be) may, in such circumstances as may be prescribed by regulations made under this Part —
appointed insurer
“appointed insurer” means any person who is licensed under the Insurance Act 1966 to carry on insurance business in Singapore and who is appointed by the Board to take over the whole or any part of the Board’s liabilities under the Scheme or to provide insurance cover to any person under the Scheme;
refuse to insure, under the Scheme, any person who has made an application under subsection (4);
insure a person under the Scheme subject to such terms and conditions as the Board or appointed insurer may impose either generally or in a particular case; or
continue to insure a person referred to in section 43(1), subject to such terms and conditions as the Board or appointed insurer may impose either generally or in a particular case.