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Why was the Matched MediSave Contribution Scheme (MMCS) extended for another year until 31 December 2021?

Many self-employed persons (SEPs) had to defer their income and MediSave contributions due to the extraordinary circumstances in 2020. This resulted in a longer transition to Contribute-As-You-Earn (CAYE) than expected. The extension of the qualifying period for another year, till 31 December 2021, will allow more SEPs to fully benefit from the Matched MediSave Contribution Scheme (MMCS).