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Introduced in 2007, the Workfare Income Supplement is a broad-based measure that tops up the salaries of lower-income workers to help them save for retirement. Workfare is targeted at Singaporean workers whose earnings are in the bottom 20%, with some support for those slightly above.
You will be eligible for the Workfare Income Supplement (WIS) scheme if you: i. are a Singapore Citizen; ii. are at least 30 years old or older on 31 December of the Work Year or are a person with disability of any age; iii.
The Workfare Income Supplement scheme encourages eligible workers to work and build up their CPF savings by providing them with cash payments and additional CPF contributions. Please refer to cpf.gov.sg/wis for more details. If you wish to check your eligibility, you may login to our e-services.
Workfare Income Supplement (WIS) Scheme. Supplements eligible workers' income and retirement savings through cash payments and CPF contributions. SCHEME HIGHLIGHTS. Employees: payment of up to $4,200 per year currently and up to $4,900 per year from 2025 (40% cash, 60% in CPF)
May 3, 2024 · Workfare Income Supplement. The WIS scheme was introduced in 2007 as a permanent feature of Singapore's social security system. WIS supplements the incomes and CPF savings of lower-wage Singaporean workers and encourages them to work regularly.
The Workfare Income Supplement (WIS) depends on your age and income. You may use the online WIS calculator to estimate the amount of WIS you will receive.
Feb 23, 2024 · Workfare Income Supplement (WIS) aims to support Singaporean workers who are in the bottom 20% in terms of earnings. To support lower wage workers, the WIS is enhanced again for Work Year 2025, as announced in Budget 2024. Here’s what you should know about WIS and how much eligible Singaporeans will receive each year. Read Also: 6 CPF Changes ...
Feb 16, 2024 · The Workfare Income Supplement scheme, or Workfare, was instituted to supplement the incomes and Central Provident Fund (CPF) savings of lower-wage Singaporean workers to encourage them to...
The Workfare Income Supplement (WIS) scheme is “effectively a negative income tax”, supporting older and lower wage Singaporean workers. Instead of taxing a low-wage employee’s income, the government tops up their salaries in cash and CPF payouts.
The Government will enhance the Workfare Income Supplement (WIS) scheme to supplement the incomes and CPF savings of lower-wage Singaporean workers, as well as to encourage them to work regularly.
