News Release by:
Central Provident Fund Board
13 February 2009 --
The CPF Board conducted its 1st Annual Grand Medisave Contribution Draw for Self-Employed Persons (SEPs) and informal workers on 11 February 2009.
The prizes of the Annual Grand Draw are higher than the previous three quarterly Medisave Contribution Draws, with the top prize being $5,000 cash. 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 have increased by $1,000 each, to $3,000 and $2,000 respectively.
2. The top three winners are:
Top prize of $5,000 cash: Choy Swee Weng (SXXXX004E)
Second prize of $3,000 cash: Chiang Beng Siah (SXXXX942Z)
Third prize of $2,000 cash: Ong Lai Fang (SXXXX251C)
3. 67,600 SEPs and informal workers who had worked in 2007 and paid at least 10% of their 2007 Medisave liabilities had qualified for the 11 February 2009 draw, compared to 65,100 for the third draw held in December 2008. This is a 4% increase from the third draw.
4. Besides the higher cash amounts for the top three prizes, the Board also increased the cash amounts for the consolation prizes as well as the number of prizes to be given out in the Grand Draw. A total of 500 cash prizes of $200 each were picked this time, compared to 300 cash prizes of $100 each previously. Winners will be 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 11 February 2009 draw is the fourth and final draw for work done in 2007. There will be another series of four draws for work done in 2008, with the first draw to be held on 1 June 2009.
7. Low-income SEPs and informal workers who pay up their 2008 Medisave liabilities by 30 April 2009 will enjoy the maximum chances of winning up to $3,000 in cash at the June 2009 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 2008 and who satisfy the following criteria:
a. Singapore citizen;
b. Average monthly income of not more than $1,500; and
c. Live in a property with an Annual Value of not more than $10,000.
8. Low-income SEPs and informal workers are encouraged to pay up their Medisave liabilities to get maximum chances.
Workfare Special Payment in Cash
9. Besides the MCD, low-income SEPs and informal workers aged above 35 this year may also qualify for Workfare, including the Special Payment which will provide additional help during this downturn. The Special Payment will be paid in cash, up to a total of $800.
Contact Information
10. 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)