For many self-employed individuals in Singapore freelancers, gig workers, and small business owners maintaining a consistent income and preparing for the future can be a financial balancing act. Recognizing this challenge, the Singapore government offers the Workfare Income Supplement (WIS) to eligible individuals, providing up to $2,800 annually in support. This scheme ensures that self-employed persons (SEPs) are not left behind in their retirement and healthcare savings journey, despite the lack of employer CPF contributions.
How the WIS Scheme Benefits You
The WIS scheme is a powerful tool for enhancing both immediate income and long-term financial security. Under this program, 10 percent of the payout is disbursed in cash, while the remaining 90 percent is credited to the recipient’s MediSave account. This ensures that while individuals benefit from immediate liquidity, they are also building essential savings for future healthcare needs. Beyond financial support, WIS encourages responsible self-declaration of income and timely MediSave contributions, aligning with national objectives of healthcare preparedness and retirement adequacy.
Eligibility Requirements You Need to Meet
To qualify for WIS, you must be a Singapore citizen who is at least 30 years old by the end of 2024. You need to earn an average monthly income of between $500 and $2,500, although this ceiling is set to rise to $3,000 from 2025. In addition, you must declare your net trade income (NTI) with IRAS and fulfill MediSave contribution obligations. Property ownership is also considered; you must own no more than one property with an annual value not exceeding $21,000. If married, your spouse’s income should not surpass $70,000, and you should jointly own no more than one property.
Steps to Successfully Claim Your WIS Payment
To claim your payout, the first step is to declare your net trade income with IRAS. If IRAS has not prompted you to file a tax return, you need to make your declaration through the myTax Portal between March 1 and October 31, 2025. If filing is required, ensure it is done by April 18, 2025. Following this, you’ll receive a Notice of Computation that determines your MediSave contribution amount. This contribution must be completed within 30 days or by December 31, 2025, if paying by installments.
The Role of PayNow and CPF eServices
To ensure you receive your cash payout without delay, it’s crucial to link your NRIC to PayNow through your banking app. The government uses this method for fast and secure disbursement of WIS funds. Once you’ve completed all necessary steps declaring income, contributing to MediSave, and linking PayNow you can monitor your eligibility status and payment updates via CPF’s Workfare eService platform. This ensures transparency and allows you to track the process from application to payout.
Why You Shouldn’t Miss This Opportunity
Missing the WIS deadline means leaving money on the table and missing out on a key form of government support. For many self-employed individuals, this annual supplement is not just a welcome financial boost it’s an investment into future healthcare security and overall financial resilience. With clear deadlines and a straightforward application process, there is no better time than now to take action. By planning ahead and fulfilling the necessary requirements, you can fully capitalize on this generous government initiative designed specifically to uplift the self-employed community in Singapore.
