i bring u good tidings because cpf members on the HPS (home protection scheme) can expect to enjoy significant savings from january 01, 2012.

the cpf board said that as at december 20, 2011, approximately 362,500 members will benefit from the lower premiums from the reduction in premiums for the hps. they form 80% of members who are currently paying annual premiums for their hps while the rest will continue to enjoy the low premium rates they are currently paying.

for example, a male member aged 36 years old servicing a $150,000 housing loan from the hdb for a term of 25 years, will pay the new reduced premium of $195.30, instead of $223.05 when he joins the scheme from january 01, 2012.

members who join the hps on or after january 01, 2012 will enjoy the new rates while existing members paying annual hps premiums will pay ......