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Self-Employed Matters



QDo I still have to contribute to MediSave as a self-employed person even though my MediSave balance has reached the Basic Healthcare Sum (BHS)?
A

Similar to employees, Self-Employed Persons are still required to make MediSave contributions even if they have met the Basic Healthcare Sum (BHS).

The MediSave amount above the BHS will flow to their Special or Retirement Accounts to allow CPF members to enjoy better returns on their CPF savings since the interest rates for Special and Retirement Accounts are higher than that of Ordinary Account (OA) interest rates. Hence, the MediSave savings in excess of the BHS can support retirement needs, or act as a reserve that members can tap on for their future healthcare needs.




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