With effect from 29 May 2024, the member and self-employed person’s “Contribute to my three CPF accounts” forms have been combined and renamed as “Top up CPF accounts”. This is to simplify the process in making voluntary top-ups, regardless of whether you are earning income as a self-employed person. You will continue to enjoy self-employed tax relief on these voluntary top-ups if you meet the eligibility criteria.

 

As these top-ups are voluntary in nature, the voluntary contribution allocated to your MediSave Account will not be used to offset your mandatory MediSave payable, and consequently will not meet the MediSave requirement for Workfare for self-employed persons. The intent is for self-employed persons to prioritise their mandatory MediSave contributions over voluntary contributions, and help self-employed persons to first set aside sufficient savings for their healthcare needs. Self-employed persons who wish to make mandatory contributions towards their MediSave payable, and to qualify for Workfare, should do so via the Manage your MediSave payable, instead of making voluntary contributions.