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Source:
www.mom.gov.sg |
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MEDISAVE CONTRIBUTION DRAW TO
ENCOURAGE SELF-EMPLOYED AND INFORMAL WORKERS TO CONTRIBUTE TO
MEDISAVE |
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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. |
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This will also allow them to benefit from
the Workfare Income Supplement (WIS) scheme. |
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Schedule |
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The MCD will consist of four quarterly draws
for each year of work done. |
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The first draw for Medisave contributions
made for work done in 2007 will be held in June 2008. |
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The second and third draws will be held in
September and December 2008. |
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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. |
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The MCD will run for three years and will be
reviewed thereafter. |
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Prizes |
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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. |
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Qualification Criteria |
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The MCD is open to all low-income SEPs/informal
workers who are Singapore citizens and satisfy the following
criteria: |
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a. Monthly income of not more than
$1,500; and 2 |
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b. Living in a property with an Annual
Value of not more than $10,000 |
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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. |
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Chances for each draw will be awarded
in proportion to the amount of Medisave liability paid before the
draw. |
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One chance will be awarded in each
draw for every 10% of the Medisave liability paid up to the month
preceding the draw. |
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Participants who pay up in full before
the deadline for the first draw will have the maximum number of
chances in all four draws. |
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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. |
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Contact Information |
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Information on the WIS scheme can be
found at www.wis.sg. |
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Queries can also be addressed to CPF
Board via: |
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- Email at wis@cpf.gov.sg |
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- Hotline number at 1800 -2222-888
Mon-Fri: 8am – 5pm, Sat: 8am – 1 pm |
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More..... (Annexes) |
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Source:
www.mom.gov.sg News Release 14
Sep 2007 |
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Important
Notice |
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FrontPage Edition: Sun 23 September 2007
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