As a self-employed person, how will I benefit from participating in Contribute-As-You-Earn (CAYE)?
Through making smaller and more regular MediSave contributions as and when you receive a service fee, Contribute-As-You-Earn (CAYE) makes saving for your healthcare needs through your MediSave Account (MA) easier. MediSave savings can be used to pay for your out-of-pocket healthcare expenses and MediShield Life premiums.
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, your CAYE contributions are automatically deposited into your MA whenever you get paid. This would also be helpful for SEPs whose income may be seasonal. CAYE can also help grow your money as you can start to earn an interest of up to 5% on your MediSave savings earlier.