Singapore Budget 2013 - Higher income cap & bigger payouts for Workfare scheme
Higher income cap & bigger payouts for Workfare scheme
The Workfare Income Supplement (WIS) scheme will now cover workers earning up to S$1,900 a month, up from the current S$1,700.
About 480,000 Singaporean workers or about 30 per cent of the citizen workforce will benefit from the new cap.
Payouts will also be raised by between 25 and 50 per cent, depending on age.
Maximum WIS payouts for employees will be increased by up to $700, with more going to older workers aged 45 years and above. Those aged 35 to 44 years will get a smaller increase.
Workers will receive 40 per cent of Workfare in cash - up from 29 per cent - with 60 per cent in CPF.
CPF contribution rates for low-income workers will also be raised to the same level as those for higher income workers.
Latest Photo Galleries on xinmsn