Singapore 2020 Ministerial Statement announced by Minister of Finance on 17 August 2020 (Issue3)

2020-09-07 11:12

Ministerial Statement announced by Minister of Finance on 17 August 2020 (Issue3)

As announced at Budget 2020, all Singaporean employees and self-employed persons (SEPs) who received Workfare Income Supplement (WIS) payments in Work Year 2019 will receive a Workfare Special Payment (WSP) in 2020.

The WSP provides a cash payout of $3,000 for all eligible Singaporeans. Eligible employees and Self-Employed Persons will receive the same amount of $3,000, which will be paid over two equal payments of $1,500 each, in July and October 2020.

The WSP will provide additional support for low-wage workers aged 35 and above in 2019.

Persons with disabilities aged below 35 years in 2019, who meet the WIS eligibility criteria, will also receive the WSP if they had received WIS payments for work done in 2019.

Extension of Workfare Special Payment

As announced on 17 August 2020, the WSP will be extended to include lower-wage workers aged 35 and above in 2020 who received WIS payment for Work Year (WY) 2020, and who have not already qualified for WSP previously. The new eligible recipients will receive the full one-off WSP of $3,000 from October 2020 onwards.

Each eligible individual can only qualify for and receive the $3,000 WSP once.

For employees, their eligibility for WIS and WSP will be automatically assessed based

on the CPF contributions made by their employers.

SEPs will have to declare their income and make their required MediSave contribution

by the following dates:

a) 31 March 2021 for WY2019 income, or

b) 31 December 2021 for WY2020 income.