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Boost your savings with Workfare Income Supplement. The Workfare Income Supplement (WIS) scheme encourages eligible workers to work and build up their CPF savings by providing them with cash payments and additional CPF contributions. Overview.
From 1 July 2023, the Workfare Skills Support (WSS) scheme is enhanced to: i. Allow more lower-wage workers to benefit from WSS and upskill earlier in their careers; ii. Encourage lower-wage workers to undertake deeper and more sustained training. Click here for more information.
May 3, 2024 · Workfare supplements income and retirement savings of lower-wage workers, and encourages upskilling with training support. Workfare is a key pillar of Singapore's social security landscape.
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.
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;
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 work...
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)
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 · The Workfare Income Supplement Scheme (WIS) is a permanent scheme that helps lower wage workers in Singapore by supplementing their income in cash and CPF top-ups. Workfare Income Supplement (WIS) aims to support Singaporean workers who are in the bottom 20% in terms of earnings.
Workfare is a multifaceted approach to a global problem, customised to Singapore’s unique social conditions and institutions. It is also a creative attempt to combine elements of wage supplementation and subsidy models.
