Scheduled Maintenance: CPF digital services will not be available on 28 May 2023, from 2am to 5am.

Your page is loading.
One moment please.

What benefits do self-employed persons enjoy from making MediSave contributions?

When you contribute to MediSave, you enjoy:

  • Up to 6% interest1 per annum on your MediSave savings
    • Savings in the MediSave Account earn 4% interest1 per annum, and the first $60,000 of your combined CPF balances earns an additional 1% interest per annum. Members aged 55 and above will also enjoy an additional 1% interest per annum on the first $30,000 of their combined CPF balance from 1 January 2016.
  • Tax relief of up to 37% of your annual net trade income (NTI), the CPF Annual Limit of $37,740 or the actual amount contributed by you, whichever is lower. No tax relief is given if your assessed NTI for the year of assessment is zero or negative.
  • Hassle-free licence application and renewal

You may also be eligible for Workfare Income Supplement (WIS) payouts of up to $2,667 annually. 

1 Based on the current 4% interest rate floor for MediSave savings. Refer to CPF interest rates for the current rates.