Singapore: CareShield Life Premiums and Payouts to Increase from 2026

Singapore’s national disability insurance scheme, CareShield Life, will raise premiums and payouts from 2026 to keep pace with rising long‑term care costs.

Singapore: The Ministry of Health has announced that CareShield Life payouts will grow at 4% annually from 2026 to 2030, doubling the previous 2% rate. This means a claimant in 2030 will receive S$806 per month, compared to S$731 under the old formula.

To sustain higher payouts, premiums will also rise by an average of S$38 annually, capped at S$75. Transitional government support worth S$570 million will cushion the impact, including subsidies for low‑ and middle‑income households.

CareShield Life, launched in 2020, provides lifelong monthly payouts for individuals with severe disabilities. The scheme is compulsory for Singaporeans born in 1980 or later, while older cohorts may opt in.

Officials emphasize that the changes are necessary to ensure affordability and sustainability as Singapore’s population ages. With more claimants expected in the coming decades, the scheme’s adjustments aim to provide greater assurance for long‑term care needs.

Source: CNA