News Release by:
Central Provident Fund Board
11 March 2010 --
The CPF Board conducted its 2nd Annual Grand Medisave Contribution Draw for Self-Employed Persons (SEPs) and informal workers on 25 February 2010.
The cash prizes of the Annual Grand Draw are higher than the previous three quarterly Medisave Contribution Draws, with the top prize being $5,000. This is $2,000 more than the top prize for the Medisave Contribution Draws. Similarly, the cash amounts for the second and third prizes of the Grand Draw are higher by $1,000 each, at $3,000 and $2,000 respectively.
2. The top three winners are:
Top prize of $5,000 cash: Tan Joo Kou (SXXXX650D)
Second prize of $3,000 cash: Tan Kim Boey (SXXXX110J)
Third prize of $2,000 cash: Wee Boon Jong (SXXXX039C)
3. 75,500 SEPs and informal workers who had worked in 2008 and paid at least 10% of their 2008 Medisave liabilities had qualified for the 25 February 2010 draw, compared to 74,300 for the third draw held in December 2009.
4. The Annual Grand Draw also saw more consolation prizes being given out, and at higher amounts. A total of 500 cash prizes of $200 each were picked this time, compared to 300 cash prizes of $100 each previously. Winners have been notified by post.
Background
5. The Medisave Contribution Draw (MCD) aims to encourage low-income SEPs to contribute to their Medisave accounts. Chances are awarded in proportion to the amount of Medisave liability paid. One chance is awarded for every 10% of Medisave liabilities paid - SEPs who have paid all their liability would be given the maximum 10 chances.
Future MCD draws
6. The 25 February 2010 draw is the fourth and final draw for work done in 2008. There will be another series of four draws for work done in 2009, with the first draw to be held in June 2010.
7. Low-income SEPs and informal workers who pay up their 2009 Medisave liabilities by 30 April 2010 will enjoy the maximum chances of winning up to $3,000 in cash at the June 2010 draw. The second and third prizes are $2,000 and $1,000 respectively, and there are also 300 consolation prizes of $100 each to be given out. The MCD is open to all low-income SEPs and informal workers who had worked in 2009 and who satisfy the following criteria:
a. Singapore citizen;
b. Average monthly income of less than $1,500; and
c. Live in a property with an Annual Value of not more than $11,000.
8. Low-income SEPs and informal workers are encouraged to pay up their Medisave liabilities to get maximum chances.
Contact Information
9. Information on the MCD can be found at www.wis.sg. Queries can also be addressed via:
- Email at wis@cpf.gov.sg
- Hotline number at 1800-2222-888 (Mon-Fri: 8am – 6pm)