Our Mission
To provide prompt and efficient compensation to depositors and insurance policy owners and beneficiaries.
What We Do
Singapore Deposit Insurance Corporation Limited (SDIC) administers the Deposit Insurance (DI) Scheme and Policy Owners’ Protection (PPF) Scheme in Singapore. SDIC is a company limited by guarantee under the Companies Act. The Board of Directors is accountable to the Minister in charge of the Monetary Authority of Singapore (MAS).
The main functions of SDIC under the DI Scheme are to collect premium contributions from DI Scheme members, manage the Deposit Insurance Fund, compensate insured depositors and educate the public about the DI Scheme. In respect of the PPF Scheme, the main functions of SDIC are to collect levies from PPF Scheme members, manage the Policy Owners’ Protection Life Fund and the Policy Owner’s Protection General Fund, make compensation payments and educate the public about the PPF Scheme.