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     FrontPage Edition: Sun 23 September 2007

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Medisave lucky draws for self-employed and informal workers

Source: www.mom.gov.sg

MEDISAVE CONTRIBUTION DRAW TO ENCOURAGE SELF-EMPLOYED AND INFORMAL WORKERS TO CONTRIBUTE TO MEDISAVE

The Government is introducing the Medisave Contribution Draw (MCD) to encourage low-income self-employed persons (SEPs) and informal workers to contribute to their Medisave accounts.
This will also allow them to benefit from the Workfare Income Supplement (WIS) scheme.
Schedule
The MCD will consist of four quarterly draws for each year of work done.
The first draw for Medisave contributions made for work done in 2007 will be held in June 2008.
The second and third draws will be held in September and December 2008.
The fourth quarterly draw, which is the Annual Grand Draw, will be held in Mar 2009. The scheme will be administered by the CPF Board.
The MCD will run for three years and will be reviewed thereafter.
Prizes
There are three top prizes and 300 consolation prizes for the quarterly draws. Prizes will be given in cash. The top prize for the quarterly draw is $3,000. For the Annual Grand Draw, there will be three top prizes of up to $5,000 cash and a total of 500 consolation prizes. More details are in Annex A.
Qualification Criteria
The MCD is open to all low-income SEPs/informal workers who are Singapore citizens and satisfy the following criteria:
a. Monthly income of not more than $1,500; and 2
b. Living in a property with an Annual Value of not more than $10,000
To qualify for the first MCD quarterly draw in June 2008, SEPs/informal workers must make their Medisave contributions for the liability arising from income earned this year by 30 April 2008.
Chances for each draw will be awarded in proportion to the amount of Medisave liability paid before the draw.
One chance will be awarded in each draw for every 10% of the Medisave liability paid up to the month preceding the draw.
Participants who pay up in full before the deadline for the first draw will have the maximum number of chances in all four draws.
All SEPs/informal workers who contribute at any time before the Grand Draw will get to participate in the Grand Draw. Details are at Annex B.
Contact Information
Information on the WIS scheme can be found at www.wis.sg.
Queries can also be addressed to CPF Board via:
- Email at wis@cpf.gov.sg
- Hotline number at 1800 -2222-888 Mon-Fri: 8am 5pm, Sat: 8am 1 pm
More..... (Annexes)

Source: www.mom.gov.sg News Release 14 Sep 2007

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