Why are mandatory MediSave contributions made by Self-Employed Persons that can be used to offset MediSave payable not counted towards the Matched MediSave Scheme?

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Accepted Answer

Contributions made through the Manage your MediSave payable (MMSP) form are specifically designated to fulfil your mandatory MediSave contributions as a Self-Employed Person (SEP), which is a statutory requirement that must be met first.

The Matched MediSave Scheme (MMSS) is designed to encourage additional voluntary cash top-ups to MediSave beyond these mandatory obligations. Hence, any contributions made through the MMSP form will not count towards MMSS.

Only voluntary cash top-ups made via the Top up MediSave Account (VCMA) form will be considered for MMSS, provided that SEPs have met the other eligibility criteria for MMSS.

Why are mandatory MediSave contributions made by Self-Employed Persons that can be used to offset MediSave payable not counted towards the Matched MediSave Scheme?

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Related questions

I have outstanding MediSave payable but I am unable to contribute the full amount. Can I make a partial contribution using the Manage your MediSave Payable form (MMSP)?

I am eligible for the Matched MediSave Scheme at the beginning of the year. Will I still be eligible if there are changes to my circumstances during the year?

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