Saving As A Self-employed Person - CPF

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1. Growing your savings

Growing your savings Saving under the Self-Employed Scheme

The Self-Employed Scheme encourages self-employed persons (SEPs) to save for retirement and healthcare needs, in the absence of regular MediSave contributions from an employer.

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1. Who is an SEP?
2. Obligations
3. What you can do
4. Benefits
5. Resources
6. FAQs
7. Articles

Who is an SEP? Obligations What you can do Benefits Resources FAQs Articles Make your MediSave contributions today

You can request an instalment plan, make contributions on your outstanding MediSave payable, or contribute to offset your future MediSave payable.

Manage your MediSave payable Who is an SEP? The definition of a self-employed person

If you are a person with your own business, work for yourself and are in the position to realise a business profit or loss, you are considered an SEP.

IRAS definition of SEPs Obligations As a self-employed person, you have several obligations under the Self-Employed Scheme. Declare your Net Trade Income (NTI) How to declare your income?

All Net Trade Income (NTI)1 declarations can be made with the Inland Revenue Authority of Singapore (IRAS) by filing a tax return. There is no need to file separate declarations with CPF Board.

 

1 NTI is your gross trade income minus all allowable business expenses, capital allowances and trade losses as determined by IRAS.

 

If you have earned income from more than one trade, you should declare each source of income separately when filing your tax return with IRAS. Each trade should be reported under its own appropriate nature of business category. Refer to IRAS’ step-by-step guide to declare your income(s).

 

When IRAS has completed the income assessment for the year, you will receive a notice of CPF contributions for self-employed persons from CPF Board informing you of your mandatory MediSave contributions. You will be able to view your digital notice on the self-employment dashboard after logging in with your Singpass.

false Make MediSave contributions How much to contribute to your MediSave?

Your MediSave contributions are computed based on your age and NTI after excluding any net earnings from platform work for work year 2025 onwards. 

https://www.cpf.gov.sg/member/tools-and-services/calculators/self-employed-medisave-contribution-calculator false Contribution calculator When to contribute to your MediSave?

Your MediSave contribution is due 30 days from the date of issuance of the notice of CPF contributions for self-employed persons issued by CPF Board.

https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/manage-your-medisave-payable false How to make your MediSave contributions?

You may request an instalment plan or make contributions to your MediSave via PayNow.

https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/manage-your-medisave-payable false Contribute via the Manage your MediSave payable Form Wish to make MediSave contributions via GIRO?

You may sign up to make affordable monthly instalments through GIRO.  

https://www.cpf.gov.sg/service/article/can-i-settle-my-outstanding-medisave-payable-by-instalments-through-giro false Apply for GIRO What you can do Other things you can do under the Self-Employed Scheme 1 Hassle-free licence application/ renewal

Check your eligibility for licence application or renewal (if applicable).

https://www.cpf.gov.sg/member/ds/dashboards/self-employment false

If you’re currently self-employed, you may apply for or renew your licence(s) if you have an active GIRO arrangement with CPF Board to settle your MediSave payable via monthly instalments or have fully settled your MediSave payable.

Check your status 2 Ease your MediSave contributions with CAYE

Contribute As You Earn (CAYE) helps SEPs contribute to their MediSave as they earn when their Corporate Service Buyers make payment to them.

https://www.cpf.gov.sg/member/growing-your-savings/cpf-contributions/contribute-as-you-earn false More on CAYE 3 Make MediSave contributions in advance

If you do not have outstanding MediSave contributions, you can make MediSave contributions for future work years in advance and earn interest on your MediSave savings earlier.

https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/manage-your-medisave-payable false Contribute now Benefits What additional benefits can you receive as a self-employed person?

Eligible SEPs can also receive benefits when they contribute to their MediSave Account.

1 Tax relief

As a self-employed person (SEP), you can enjoy full tax relief on your mandatory MediSave contributions. 

 

The relief on your voluntary contributions will be capped at the lowest of:

• 37% of your net trade income1; or
• CPF annual limit of $37,740*; or
• Actual voluntary amount contributed by you

1Excludes net earnings from platform work (if any) as declared to CPF Board by your platform operator(s) for work year 2025 onwards if you are a mandatory or opt in platform worker

 

*Amount less tax relief allowed on mandatory MediSave contributions

false 2 Workfare Income Supplement (WIS)

Lower income SEPs may qualify for the Workfare Income Supplement (WIS) scheme.

https://www.cpf.gov.sg/member/growing-your-savings/government-support/workfare-income-supplement false More on WIS 3 Co-contribution scheme

SEPs who are part of the Drive and Save (DAS) scheme can receive up to $20 monthly co-contribution from their taxi operators.

https://www.cpf.gov.sg/service/article/how-do-i-register-for-the-drive-and-save-das-scheme false More on DAS Resources Need more information? Forms

Click here to access all forms under the Self-Employed Scheme

Calculators

Click here to access all calculators related to the Self-Employed Scheme

Show all FAQs Common questions How can I make my MediSave contributions? How can I check whether I have any MediSave payable as a self-employed person? How can I check if I am eligible for licence application or renewal? View all https://www.cpf.gov.sg/service/sub-categories?category=P_M_GYS false Articles Related Reads CPF overview

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