Retrenchment Claim

What you need to know.

You can submit this claim online via My Income customer portal. Don't have an account yet? Register today!

Your claims should be made after four months from the date of retrenchment.
It usually takes 14 working days to process your claim once all documents are received.
For claims which require further clarification, we will need more time to process your claim. For such cases, we will keep you informed.

1
Prepare the required documents and complete the claim form

Retrenchment claim

Required documents

• Retrenchment letter^ from previous employer stating reason(s) for the retrenchment and date of termination

• Letter^ from your previous employer stating your employment start date

• Letter^ stating your current employment start date if you have found employment following the retrenchment

• CPF Statement showing last 6 months' contribution prior to retrenchment and cessation of contribution for at least 4 months after date of retrenchment

• Your bank book/statement for crediting of claim proceeds. It must show the bank name, bank account number and full names of all bank account holders.

^This letter must be an official letter with company letterhead and address.

Claim forms

Retrenchment Claim Form

2
Send us your documents and claim form

If you are unable to submit your claim online, please submit your claim through your insurance advisor OR email to us at csquery@income.com.sg.

Important notes

Please ensure that all requirements for claim submission are completed before submission to avoid unnecessary delay.

Your queries answered.

What is retrenchment?

Retrenchment and retrenched mean losing your job as a result of redundancy or because your employer's profession, business, trade or work is being reorganised.

What are the exclusions of the retrenchment benefit?

If you are retrenched, for this benefit to apply, you must meet all the following conditions:

• You must have paid at least six months' premium

• Your retrenchment must have taken place no earlier than six months after the cover start date

• You have not been able to find employment for three months in a row after being retrenched

You will have to pay premiums for the month that you start permanent paid employment and this benefit will end. You can claim for the retrenchment benefit only once under the policy.

We will not pay this benefit if your claim arises from:

• retiring, leaving after a probation period, resigning or being dismissed;

• suffering a psychological condition, disability or illness;

• taking part in a labour dispute;

• coming to the end of an employment contract;

• being involved in a staff-reduction programme or unemployment you knew was going to happen before the cover start date;

• being employed for less than six months by an employer; or

• being employed by an employer not incorporated or registered in Singapore.

Do refer to your policy document for the full set of exclusions.

When should I submit the retrenchment claim?

You may submit the retrenchment claim after 4 months from your date of retrenchment. Please note that your CPF Statement must show last 6 months' contribution prior to retrenchment and cessation of contribution for at least 4 months after date of retrenchment.

If my policy is assigned, is the retrenchment benefit also applicable to the Assignee and how do I submit the claim?

This benefit is only applicable to the Policyholder as stated in the policy document. The Assignee may submit the claim online via My Income Customer Portal or email us at csquery@income.com.sg..

The company that I had worked for is not registered in Singapore. Can I still claim the retrenchment benefit?

No. To claim for this benefit, you must be employed by an employer incorporated or registered in Singapore.

I was a contract employee and my employment contract was not renewed. Can I claim the retrenchment benefit?

No. This benefit does not apply when the termination arises from the ending of an employment contract.

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