More than 300,000 Workfare Income Supplement (WIS) Recipients to Receive Workfare Special Bonus (WSB) by 1 December 201229 Nov 2012
By 1 December 2012, 339,000 Workfare Income Supplement (WIS) recipients will have received the third instalment of their Workfare Special Bonus (WSB) payment. The WSB is part of the $3.2 billion ‘Grow & Share’ Package announced by the Government in February 2011.
2. The WSB, given on top of WIS, is paid in 4 instalments – with 2 instalments amounting to 50% of WIS for work done in 2010, and 25% of WIS each year for work done in 2011 and 2012. The first instalment was paid in May 2011 and the second instalment was paid in December 2011.
3. Eligible employees will automatically receive their WSB payments fully in cash. For example, a WIS recipient aged 60 and earning $1,000 a month will receive $700 in WSB on 1 December. This is on top of the $2,800 that he would have received in WIS this year, giving a total of $3,500. A worker aged 45 earning the same wage will receive $350 in WSB this year, on top of the $1,400 that he would have received in WIS, giving a total of $1,750.
4. Self-employed persons who declare their income and make their mandatory CPF Medisave contributions will receive WSB – half in cash, and the other half in their Medisave Account. Those who have declared their 2011 income and made Medisave contributions by 31 October 2012 will receive their WSB on 1 December 2012. Those who have declared their 2011 income by 31 May 2012 but have yet to contribute to their Medisave may still qualify for WIS and WSB for work done in 2011, if they make their Medisave contributions by 31 December 2013.
5. The WSB is expected to cost Government about $450 million over three years.
6. For more information on the Workfare Special Bonus, please visit the website www.cpf.gov.sg or call 1800 222 6622.
Ministry of Finance
29 November 2012