Enhancements to the Workfare Income Supplement Scheme
From January 2023, the Workfare Income Supplement (WIS) Scheme will be enhanced to supplement the incomes and CPF savings of lower-wage workers, and encourage them to work regularly.
The Workfare Income Supplement (WIS) Scheme will be extended to younger workers aged 30 to 34. A minimum income criterion for WIS of $500 per month will also be introduced. Correspondingly, self-employed persons (SEPs) must have a minimum annual net trade income (NTI) of $6,000 to qualify for WIS. This is to encourage part-timers and casual workers to take up regular, full-time work.
The maximum annual WIS payouts will also be increased from $4,000 to $4,200. Persons with disabilities (PWDs) will qualify for the highest payout tier (up to $4,200), regardless of age.
Higher CPF contribution rates for senior workers and CPF Transition Offset
From January 2023, the employer and employee CPF contribution rates for employees aged above 55 to 70 will be raised by up to 1 percentage point each to support senior workers’ retirement adequacy.
CPF Transition Offset (CTO) will be provided to cover half of the increase in employer CPF contribution rates in 2023.
Contact Information
CPF Board
Write to us: cpf.gov.sg/writetous
Call us: 1800-227-1188 (Monday to Friday: 8.00am to 5.30pm)
