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Why must self-employed persons contribute to MediSave to receive Workfare Income Supplement?

Updated by CPF
A key principle of the Workfare Income Supplement (WIS) scheme is personal responsibility in saving for future needs, with the government providing supplementary support.
 
Self-employed persons (SEPs) are required to contribute to their MediSave Accounts because they do not receive  employer contributions. Regular Medisave contributions help ensure they have enough savings for healthcare needs, especially in old age.
 
To qualify for Workfare Income Supplement (WIS), SEPs must contribute to MediSave as WIS is intended to supplement both income and CPF savings for long-term financial security.

This information is sourced from CPF.

Topics:

Growing Your SavingsWorkfare Income Supplement Scheme

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