A key principle of the Workfare Income Supplement (WIS) scheme is personal responsibility in saving for future needs, with the government providing supplementary support.
Self-employed persons (SEPs) are required to contribute to their MediSave Accounts because they do not receive employer contributions. Regular Medisave contributions help ensure they have enough savings for healthcare needs, especially in old age.
To qualify for Workfare Income Supplement (WIS), SEPs must contribute to MediSave as WIS is intended to supplement both income and CPF savings for long-term financial security.
