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REP not renewed, question on private shield insurance plan and other issues

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xingfu
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REP not renewed, question on private shield insurance plan and other issues

Post by xingfu » Thu, 06 Aug 2020 7:35 pm

Hi all

Just got my REP renewal application rejected as I am outside Singapore currently, and given the Covid situation I'm not sure if I should re-enter Singapore and stay till I can get it renewed. ](*,)

46 y.o Msian male C.

Now I plan to retain my CPF intact for now regardless whether I am eligible to withdraw or not
Question is
1. what happens to my private shield plan (I currently have enhanced Incomeshield Basic PR) Can I still maintain this plan with a different/higher premium.
According to CPF website, policy holders are advise to check with your private insurer. Does that mean this policy differs between the different insurers? Which insurer then allows non-PRs to retain coverage?

Q What would happen to my Integrated Shield Plan if I renounce my Singapore Citizenship/ Permanent Residency?
A
When you renounce your Singapore Citizenship/ Permanent Residency, the MediShield Life component of your Integrated Shield Plan would cease at the end of the current policy year. If you wish to continue with your policy, you need to check with your private insurer whether they will insure you fully (without the MediShield Life component).


2. Does it make any difference if one choose to withdraw CPF versus one who does not? And in the case of maintaining Medisave account, which applies back to Q1 since the insurer can continue to withdraw from Medisave if it is intact.

3. Do you hand back your Blue IC when you re-enter Sg? and as per Q2, any relation whether you withdraw CPF or not?

4. What kind of updates do you make to your existing bank accounts, CDP accounts in Singapore? photo ID, tax residency? will it affect taxation on dividends from SG stocks, REITS, business trust, unit trust, SSB Bonds etc?

Thanks to all for sharing information or giving answers, appreciate them

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singaporeflyer
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Re: REP not renewed, question on private shield insurance plan and other issues

Post by singaporeflyer » Thu, 06 Aug 2020 11:46 pm

xingfu wrote:
Thu, 06 Aug 2020 7:35 pm
Hi all

Just got my REP renewal application rejected as I am outside Singapore currently, and given the Covid situation I'm not sure if I should re-enter Singapore and stay till I can get it renewed. ](*,)

46 y.o Msian male C.

Now I plan to retain my CPF intact for now regardless whether I am eligible to withdraw or not
Question is
1. what happens to my private shield plan (I currently have enhanced Incomeshield Basic PR) Can I still maintain this plan with a different/higher premium.
According to CPF website, policy holders are advise to check with your private insurer. Does that mean this policy differs between the different insurers? Which insurer then allows non-PRs to retain coverage?

Q What would happen to my Integrated Shield Plan if I renounce my Singapore Citizenship/ Permanent Residency?
A
When you renounce your Singapore Citizenship/ Permanent Residency, the MediShield Life component of your Integrated Shield Plan would cease at the end of the current policy year. If you wish to continue with your policy, you need to check with your private insurer whether they will insure you fully (without the MediShield Life component).


2. Does it make any difference if one choose to withdraw CPF versus one who does not? And in the case of maintaining Medisave account, which applies back to Q1 since the insurer can continue to withdraw from Medisave if it is intact.

3. Do you hand back your Blue IC when you re-enter Sg? and as per Q2, any relation whether you withdraw CPF or not?

4. What kind of updates do you make to your existing bank accounts, CDP accounts in Singapore? photo ID, tax residency? will it affect taxation on dividends from SG stocks, REITS, business trust, unit trust, SSB Bonds etc?

Thanks to all for sharing information or giving answers, appreciate them
According to CPF website, policy holders are advise to check with your private insurer. Does that mean this policy differs between the different insurers? Which insurer then allows non-PRs to retain coverage?


-- It is upto the insurer to treat you as a foreigner and allow you to take the hospitalization plan. But since you are not a PR anymore, I am not sure if you can use your medisave to pay for the plan, even if your CPF is not withdrawn.

Also most of insurer hospitalization plan are to cover hospitalization MAINLY in Singapore.

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PNGMK
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Re: REP not renewed, question on private shield insurance plan and other issues

Post by PNGMK » Sun, 09 Aug 2020 5:11 pm

You must have been working outside Singapore for some time to have your REP auto rejected.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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