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Contribute-As-You-Earn (CAYE)Contribute-As-You-Earn (CAYE)CAYE helps Self-Employed Persons (SEPs) contribute to their MediSave as they earn. For your convenience, government agencies will deduct and transmit a portion of your payment into your MediSave account. TrueTrueForms;#Others;#



UnderstandWhat is Contribute-As-You-Earn (CAYE)?<p>Under Contribute-As-You-Earn (CAYE), a MediSave contribution is required as and when a Self-Employed Person (SEP) earns a service payment. Every time a payment is made to the SEP, the agency/company making the payment will first deduct and credit a portion of the service payment to the SEP’s MediSave Account, before paying the remainder of the service payment to the SEP. </p><p>CAYE does not change the amount of MediSave contributions SEPs have to make based on their Net Trade Income (NTI). </p><p>The Government will take the lead to pilot CAYE from 1 January 2020. </p>Contribute-As-You-Earn (CAYE)27061774
UnderstandWho needs to participate in Contribute- As-You-Earn (CAYE)?<p>From 1 January 2020, the Government, as a service buyer, will pilot Contribute-As-You-Earn (CAYE) to help Self-Employed Persons (SEPs) build up their MediSave savings. </p><p>SEPs who are individual freelancers or sole proprietors and were awarded jobs with Government agencies will automatically be enrolled into CAYE from 1 January 2020. </p><p>SEPs who provided services to the following Government agencies will only be enrolled into CAYE from 1 July 2020. </p><ul> <li>Health Promotion Board</li><li>Health Sciences Authority</li><li>National Library Board</li><li>Skillsfuture Singapore</li><li>Workforce Singapore</li></ul>Contribute-As-You-Earn (CAYE)27071775
UnderstandUnder Contribute-As-You-Earn (CAYE), how much do I need to contribute to my MediSave?<p>Under Contribute-As-You-Earn (CAYE), the amount of MediSave contribution deducted from your service payment is based on your estimated annual revenue and expenses for the year. </p><p>Your CAYE contribution rate is determined by the following formula: <br></p><table width="100%" class="ms-rteTable-default" cellspacing="0" style="height:32px;"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"><p>​CAYE contribution rate = <strong>(A x B) / C</strong></p><p>where</p> <strong>A</strong> is the MediSave contribution rate for your estimated annual Net Trade Income (NTI)<sup>1</sup> and age for the year; <br> <strong>B</strong> is your estimated annual NTI<sup>1</sup> for the year<sup>2</sup>; and <br> <strong>C</strong> is your estimated annual revenue for the year<sup>2</sup><br><br> <p> <span style="font-size:0.9em;"><sup>1</sup> Your estimated annual NTI is derived using your estimated annual revenue less estimated annual expenses for the year. </span></p><p> <span style="font-size:0.9em;"> <sup>2</sup> If you did not provide your estimated annual revenue and expenses for the year, it will be based on your actual revenue and expenses assessed by IRAS two years ago. </span></p></td></tr></tbody></table><p> </p><p>A floor CAYE contribution rate of 2% will apply if you earned an annual Net Trade Income (NTI) of more than $6,000 two years ago. </p><p>To ensure that your CAYE contribution rate reflects your business outlook for the year accurately, please estimate your revenue and expenses by logging in to <a href="">My Self-Employed Home</a> using your SingPass, then select My CAYE – Contribute-As-You earn > Update. </p><p>You can adjust your CAYE contribution rate as and when there are changes to your estimated revenue and expenses. Your updated rate will apply to payments made from the next day. You can refer to our <a href="/members/Tools/online-demos/online-demos/my-cpf-online-services/my-self-employed-home/760">Online Demo on how to update your CAYE contribution rate</a>. Otherwise, a personalized default CAYE contribution rate computed based on your NTI assessed by IRAS two years ago will apply. </p><p>For more details, please refer to the <a href="/Assets/members/Documents/Example_CAYEContributionRateComputed.pdf" target="_blank">examples on how the CAYE contribution rate is computed</a> (PDF, 0.3MB).</p>Contribute-As-You-Earn (CAYE)27081776
UnderstandHow do I know if the Contribute-As-You-Earn (CAYE) contribution amount and net payment amount are made correctly?<p>You may check your payment records by logging in to <a href="">My Self-Employed Home</a> using your SingPass, then select My CAYE – Contribute-As-You-Earn > View all. You can refer to our <a href="/members/Tools/online-demos/online-demos/my-cpf-online-services/my-self-employed-home/759"> Online Demo on how to view your payment records for CAYE</a>.</p><p>If you have previously informed CPF Board of your contact number, you will receive an SMS whenever a contribution to your MediSave Account has been made via Contribute-As-You-Earn (CAYE). </p>Contribute-As-You-Earn (CAYE)27091777
EvaluateWhat are the benefits of participating in Contribute-As-You-Earn (CAYE)?<p>Through making smaller and more regular MediSave contributions as and when you receive a payment, Contribute-As-You-Earn (CAYE) makes saving for your healthcare needs easier. Your MediSave savings can be used to pay for you and your family’s out-of-pocket healthcare expenses and MediShield Life premiums.</p><p>As a Self-Employed Person (SEP), there are many issues that require your attention. CAYE is an easy and hassle-free way to help free up more of your time. For your convenience, the agency/company you provided a service to will transmit a portion of the payment to your MediSave Account as and when you get paid. This will be helpful for SEPs whose incomes may be seasonal. CAYE can also help grow your money as you start to earn interest of up to 5% on your MediSave savings earlier.</p><p>To address transitional issues faced by SEPs during the CAYE pilot, SEPs who make MediSave contributions under CAYE in 2020 will receive a one-off matched MediSave contribution from the Government, up to $600. You may refer to our <a href="">FAQs</a> for more information on the matched MediSave contributions.</p>Contribute-As-You-Earn (CAYE)27101778
DecideWhat if I do not wish to participate in Contribute-As-You-Earn (CAYE)?<p>Contribute-As-You-Earn (CAYE) helps Self-Employed Persons (SEPs) save for their healthcare needs through smaller and more regular MediSave contributions each time they receive a service payment. This helps to reduce the MediSave contributions payable in the following year (after SEPs declare their Net Trade Income (NTI) and have their MediSave payable computed). </p><p>SEPs who have made their MediSave contributions in full or are on GIRO instalment plan will be allowed to set their CAYE contribution rate to zero. This means that the SEP will receive his service payment in full, and CAYE contributions will not be deducted from his service payment. If you do not wish to make any CAYE contribution, you may write in to CPF Board from 1 January 2020, and CPF Board will assess your request. </p><p>For SEPs who have not been keeping up with their MediSave contributions, CAYE will help them keep up with the current MediSave obligations and prevent their MediSave payable from snowballing. </p> Contribute-As-You-Earn (CAYE)27111779











How to view Payment Records for CAYEHow to view Payment Records for CAYE/Tools/online-demos/online-demos/my-cpf-online-services/my-self-employed-home759MP4, 1.2MB
How to Update Contribute-As-You-Earn (CAYE) Contribution RateHow to Update Contribute-As-You-Earn (CAYE) Contribution Rate/Tools/online-demos/online-demos/my-cpf-online-services/my-self-employed-home760MP4, 1.8MB











Contribute-As-You-Earn (CAYE)Self-Employed Scheme



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