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Under Contribute As You Earn (CAYE), how much MediSave contribution would I have to make from my service fee?

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Updated by CPF
Under Contribute As You Earn (CAYE), the amount of MediSave contribution deducted from your service fee is based on your estimated annual revenue and expenses for the year.
 
Your CAYE contribution rate is computed by the following formula:
 

CAYE contribution rate = (A x B) / C
where

A is the MediSave contribution rate for your estimated annual Net Trade Income (NTI)1 and age for the year;

B is your estimated annual NTI1 for the year2; and

C is your estimated annual revenue for the year2

1 Your estimated annual NTI is derived using your estimated annual revenue less estimated annual expenses for the year.

2 If you did not provide your estimated annual revenue and expenses for the year, it will be based on your actual revenue and expenses assessed by IRAS two years ago.

A floor CAYE contribution rate of 2% will apply if you have earned more than $6,000 two years ago.
 
To ensure that your CAYE contribution rate reflects your business outlook for the year accurately, please estimate your revenue and expenses by logging in to the Self-employment dashboard using your Singpass, under Contribute As You Earn > Update contribution rate. You can adjust your CAYE contribution rate as and when there are changes to your estimated revenue and expenses. Generally, your updated rate will apply to payments made from the next day.
 
Otherwise, a personalised default CAYE contribution rate computed based on your NTI assessed by the Inland Revenue Authority of Singapore (IRAS) two years ago will apply.
 

This information is sourced from CPF

Topics:
Growing Your SavingsContribute As You Earn
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