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From early June 2024, you will only be able to select PayNow (excluding PayNow Mobile Number and Virtual Payments Address) as the mode of payment.
A Singapore Government Agency Website
From early June 2024, you will only be able to select PayNow (excluding PayNow Mobile Number and Virtual Payments Address) as the mode of payment.
PayNow (excluding PayNow Mobile Number and Virtual Payments Address) will be the default payment mode from early June 2024. Please ensure that you are registered for PayNow (excluding PayNow Mobile Number and Virtual Payments Address) so that you receive your service fee payments promptly.
PayNow (excluding PayNow Mobile Number and Virtual Payments Address) aligns with the government's drive for digital transformation and the Smart Nation initiative, as it promotes the adoption of digital payment. It also provides citizens a more secured mode of payment as they do not need to provide their bank account details to receive their service fee payments.
You will only be able to use the bank account registered to your PayNow to receive service fee payments.
Please ensure that you have registered for PayNow (excluding PayNow Mobile Number and Virtual Payments Address) so that you receive your service fee payments promptly. If not, you will not be able to receive your service fee payments from early June 2024.
We encourage you to check with your bank to ensure your details are updated or if you need more information on how to sign up for PayNow (excluding PayNow Mobile Number and Virtual Payments Address).
Under the Contribute-As-You-Earn (CAYE) scheme, a MediSave contribution is required as and when a self-employed person (SEP) earns a service fee. Every time a service fee is paid to the SEP, the corporate service buyers (CSBs) or intermediaries making the payment will first deduct and credit a portion of the service fee to the SEP’s MediSave Account, before paying the remainder of the service fee to the SEP.
CAYE does not change the amount of MediSave contributions SEPs have to make based on their net trade income.
SEPs who provide services to government agencies are automatically enrolled into CAYE.
Through making smaller and more regular MediSave contributions as and when you receive a service fee, Contribute-As-You-Earn (CAYE) makes saving for your healthcare needs through your MediSave Account (MA) easier. MediSave savings can be used to pay for your out-of-pocket healthcare expenses and MediShield Life premiums.
As a self-employed person (SEP), there are many issues that require your attention. CAYE is an easy and hassle-free way to help free up more of your time. For your convenience, your CAYE contributions are automatically deposited into your MA whenever you get paid. This would also be helpful for SEPs whose income may be seasonal. CAYE can also help grow your money as you can start to earn an interest of up to 5% on your MediSave savings earlier.
Self-employed persons (SEPs) are required to contribute to their MediSave Account (MA) if their annual Net Trade Income (NTI) is more than $6,000. Contribute-As-You-Earn (CAYE) does not change the amount of MediSave contributions you have to make based on your NTI. The only change concerns how the contributions are made. Under CAYE, the agency/company you provided a service to will help you contribute into your MA each time it makes a service payment to you.
Your CAYE contributions are based on your estimated annual revenue and expenses. Thus, CAYE contributions are an estimate of your MediSave payable. After you declare your NTI for the year, your MediSave payable will be computed.
If your total Contribute-As-You-Earn (CAYE) contributions are higher than your MediSave payable for the latest year, your excess CAYE contributions will be used to offset your outstanding MediSave payable from previous years1. Any remaining CAYE contributions will then be refunded to you.
If your total CAYE contributions are lower than your MediSave payable, you’ll be required to top up the remaining amount. You’ll be notified accordingly, and you can choose to make payment via lump-sum payment(s) or sign up for GIRO instalments.
1This will take effect for CAYE contributions made from 2023. Please write to us if you do not wish to use your CAYE contributions to offset your outstanding MediSave payable from previous years.
Contribute-As-You-Earn (CAYE) helps you save for your healthcare needs through smaller and more regular MediSave contributions each time you receive a payment. There is no change to your MediSave contributions payable as it would still be based on your actual Net Trade Income.
We understand that some self-employed persons (SEPs) may be facing financial difficulties and may not be able to cope with Contribute-As-You-Earn (CAYE). Thus, if you do not have outstanding MediSave payable or are contributing via GIRO instalments, you may set your CAYE contribution rate to 0%. This means that you’ll receive your service payment in full, and CAYE contribution will not be deducted from your service payment. Please write to us at self-employed@cpf.gov.sg if you wish to apply for a 0% CAYE contribution rate. CPF Board will assess your eligibility and inform you of the outcome in writing.
SEPs who are individual freelancers or sole proprietors and were awarded jobs with Government agencies will automatically be enrolled into CAYE.
Private companies are also encouraged to voluntarily onboard CAYE to help the SEPs who they have contracted with, save for their healthcare and retirement needs in an easier manner.
You’ll be automatically enrolled into Contribute-As-You-Earn (CAYE) when you receive a service payment from a Government agency you have provided services to as a self-employed person (SEP). You’ll receive a notification from CPF Board when you receive your first payment via CAYE. Subsequently, you’ll also receive a notification each time you receive a payment via CAYE.
As a self-employed person, you’re still required to make MediSave contributions even if you have met the Basic Healthcare Sum (BHS). This is the same for employees.
The MediSave amount above the BHS will be transferred to your CPF Special Account (SA)* or Retirement Account (RA). The BHS cap and overflow arrangement are intentionally planned to avoid over savings in MediSave and to supplement your retirement savings. These overflows which end up in your SA or RA can be withdrawn according to the withdrawal guidelines. If you’ve met the Full Retirement Sum in your SA or RA, the savings in excess of the BHS will be transferred to your Ordinary Account (OA). Savings in the OA can be used for other purposes such as housing repayment.
*The SA will be closed for members aged 55 and above from early 2025. Read more here.
If you’ve made Contribute-As-You-Earn (CAYE) contributions up to the maximum MediSave payable for the year, your applicable CAYE contribution rate will be 0%. This means that you will receive your service fee in full, and CAYE contribution will no longer be deducted from your service fee.
However, you’ll still be required to make good your outstanding MediSave payable (if any) via lump-sum payment(s) or GIRO instalment plan.
The Government, as a service buyer, has piloted Contribute-As-You-Earn (CAYE) since 1 January 2020. There are currently no plans to extend CAYE into the private sector. Nonetheless, companies in the private sector are encouraged to voluntarily adopt CAYE.
The small and regular MediSave contributions made through Contribute-As-You-earn (CAYE) help self-employed persons (SEPs) to reduce the MediSave contributions payable in the following year (after SEPs declare their Net Trade Income and have their MediSave payable computed).
If you’ve made your MediSave contributions in full or are on GIRO instalment plan, you’ll be allowed to set your CAYE contribution rate to 0% and receive your service fee in full.