Platform workers in Singapore can get up to $3267 Workfare Income Supplement in 2024. Check eligibility, payment structure, and reforms here.
Singapore’s gig economy is growing rapidly, and platform workers are a significant part of the workforce. To address their financial challenges, the government’s Workfare Income Supplement (WIS) program has introduced new reforms. Starting in 2025, payments will shift to a monthly schedule, and CPF contributions will become mandatory for platform operators. Here's an overview of the key updates, eligibility criteria, and benefits.
Key Changes to WIS for Platform Workers
- Monthly Payments Begin in 2025: WIS will be paid monthly instead of annually, providing more consistent income support.
- CPF Contributions Mandated: Platform operators must deduct monthly CPF contributions, bringing platform workers closer to traditional employees in terms of benefits.
- Parity by 2029: Workers contributing more to CPF will receive equal WIS benefits as employees by 2029.
Eligibility Criteria
To qualify for WIS, platform workers must meet these requirements:
- Citizenship: Must be a Singapore Citizen.
- Age: At least 30 years old by the end of the work year, or any age if disabled.
- Income: Gross monthly income must be between $500 and $3,000 over the past 12 months.
- Property Ownership:
- Single applicants must live in a property with an annual value of $21,000 or below.
- Married applicants must own no more than one property, with combined assessable income not exceeding $70,000.
Special provisions are available for caregivers and persons with disabilities, even if their income falls below the $500 threshold
WIS Maximum Payouts
- Ages 30–34: Maximum payout is $1,633 per year.
- Ages 35–44: Maximum payout is $2,333 per year.
- Ages 45–59: Maximum payout is $2,800 per year.
- Ages 60+ (or disabled): Maximum payout is $3,267 per year.
WIS Payment Breakdown
- 10% in Cash:
- Credited directly to PayNow NRIC-linked bank accounts.
- Alternatively, credited to registered bank accounts or disbursed via GovCash.
- 90% in MediSave:
- Deposited into MediSave accounts to support healthcare expenses.
Payment Timeline
- Payments will be distributed monthly, starting in March 2025.
- For work done in January 2025, payments will be made by the end of March 2025.
- Workers without PayNow or bank accounts will receive payments via GovCash.
How to Ensure Compliance
- No Action Needed for Eligibility: CPF Board will automatically evaluate eligibility based on income reported by platform operators.
- Verify CPF Contributions: Ensure that your platform operator deducts CPF contributions monthly.
- Report Non-Compliance: If your platform operator fails to make contributions, report the issue to the CPF Board.
Why Monthly Payments Matter
- Offers greater financial stability through regular income support.
- Aligns platform workers' benefits with those of traditional employees.
- Encourages savings for healthcare through MediSave contributions.
The new WIS reforms aim to provide platform workers with fairer treatment, bridging the gap between gig workers and traditional employees. These changes reflect Singapore’s commitment to fostering an inclusive and secure work environment for all.
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