Workfare Income Supplement (WIS): Who Qualifies and What You Get
Learn how the Workfare Income Supplement provides cash and CPF top-ups to help lower-income workers boost their long-term savings.
The Workfare Income Supplement (WIS) is a support scheme designed to provide additional financial assistance to lower-income workers to help boost their long-term savings and retirement funds.
Who it's for
This scheme is specifically designed for lower-income workers who are aged 30 and above. To qualify, your monthly earnings must be up to $2,500. It is intended to provide a financial lift to those who are part of the workforce but need extra help to build up their financial cushion.
What you get
The support you receive is delivered in two ways to help both your immediate needs and your future security. First, you receive cash payments that can help with your current cost of living. Second, you receive top-ups to your CPF, which is a compulsory savings scheme used to fund your retirement, healthcare, and housing needs. These top-ups are meant to help increase your overall retirement savings over time.
What it costs you
There is no application fee or out-of-pocket cost to receive this support. If you are already a CPF contributor, the process is designed to be automatic. This means you do not need to worry about manual paperwork or paying for the service; the credits are applied to your account based on your employment status and income levels.
The catch to know
The most important thing to keep in mind is that you must be in continuous employment to remain eligible. If there are gaps in your work or if you are not actively earning a qualifying income through employment, you might not receive the supplement during those periods.
How to apply
- Confirm that you meet the age requirement of being 30 years or older.
- Verify that your monthly income stays within the qualifying limit of $2,500.
- Ensure you are currently employed and making CPF contributions to trigger the automatic process.
- Visit the official portal to check for any updates or specific details regarding your eligibility.