The Central Provident Fund Board (CPFB) announced on 2 October 2020 that, from 1 April 2021, CPF members under the Dependants’ Protection Scheme (DPS) will enjoy a higher sum assured of $70,000 at more attractive premiums. The scheme will also cover members up to age 65. Currently, the sum assured is $46,000 and DPS coverage is capped at age 60. In the same announcement, CPFB also stated that Great Eastern Life will take over the administration of all DPS policies from 1 April 2021. No action is required from Income’s DPS policyholders at this point in time, as Income will continue to issue new DPS policies and serve DPS policyholders until the transition to Great Eastern Life on 1 April 2021. The Dependants’ Protection Scheme (DPS) is an affordable term insurance scheme that provides insured members and their families with some money to get through the first few years should the...