If you are using your CPF savings to pay the housing loan instalments on your HDB flat, you will have to be insured under HPS, subject to good health. The Home Protection Scheme is a mortgage reducing insurance that protects you and your family against losing your home should you become physically/mentally incapacitated or pass away before your housing loans are paid up.

Before deciding on the property, do be mindful of the prevailing Minimum Sum that you will need to set aside as savings to support a basic standard of living during retirement. This means that you should not over-commit significant amount of your CPF savings into Housing. Please note that the Minimum Sum will be increased yearly.

Click here for more information on Minimum Sum Scheme

Properties bought with CPF savings are not covered by CPF nomination, but instead form part of your estate.

If you are living overseas or are not able to personally handle the transactions, you may appoint someone under the Power of Attorney to act for you in the purchase of the property. View more information on Power of Attorney.