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With the economy doing well, it is timely to retune the balance of our CPF contribution rates towards the upper end of the 30-36% range. A modest CPF increase will not erode our economic competitiveness and will allow us to better meet the needs of an ageing population. To enable our workers to benefit from economic growth and to help them build up their CPF savings, effective 1 July 2007 the Government will raise the employer's CPF contribution rate by 1.5 percentage points.

This CPF increase will not apply for older low wage workers who are affected by wage stagnation and structural unemployment as a result of global competition. For this group, a different solution is required. Instead of raising their employer CPF contribution rates, we will instead reduce their CPF contributions: a reduction in employer CPF contributions to help improve their employability and a reduction in employee CPF contributions to increase their take-home pay. To complement these CPF changes, Government will implement a new Workfare Income Supplement Scheme (WIS) which will make up for the reductions in their CPF contributions. The WIS and the 2007 CPF changes will provide more incentives for older low wage workers to work, and for employers to hire them. Please refer to the Ministerial Statement delivered on 17 September 2007 for more details on the higher WIS payments for workers aged above 55 and other CPF changes.

Press Releases 4 Jun 2008 Winners of first Medisave contribution draw 24 Mar 2008 262,000 employees receive Workfare Income Supplements for work done in 2007 27 Dec 2007 287,000 workers to receive $146 million in Workfare Income Supplements on 1 January 2008 14 Nov 2007 Revised AV Cut-Off for Workfare Income Supplement payments in 2009 14 Sep 2007 Medisave Contribution Draw to encourage self-employed and informal workers to contribute to Medisave 28 Aug 2007 Low-wage SEPs and informal workers can register at Singapore Post branches to qualify for Workfare Income Supplements 16 Feb 2007 Press Release on CPF Changes and Workfare for Low-wage Workers Comments by Minister for Manpower, Dr Ng Eng Hen, at the Press Conference on Friday, 16 February at 11am   Medisave Contribution Draw (MCD) Results MCD on 2 June 2008 (0.6MB)   A Guide to WIS English (1.0MB) | Chinese (3.2MB) | Malay (1.4MB) | Tamil (3.6MB)   A Guide to Medisave Contribution Draw (MCD) English (1.5MB) | Chinese (2.0MB) | Malay (0.9MB) | Tamil (1.4MB)   FAQs WIS Scheme Eligibility Criteria FAQs on CPF Changes FAQs on Workfare Income Supplement Scheme (WIS) FAQs on Medisave Contribution Draw (MCD)

Tables: WIS Benefits
i.	Table 1: Employees' WIS Benefits
ii.	Tables 2 and 3: Self-Employed Medisave Contributions and WIS Benefits
Charts

	Charts showing impact of CPF changes and WIS Scheme