Personal Finance
A Self-Employed Individuals’ Guide To CPF Contributions
By Seedly  •  September 3, 2019

“Wah… You’re lucky that you’re self-employed. Means don’t need to care about your money being sucked into CPF.” 

Really?

Having been a freelance writer, marketer, and a tuition teacher for a year, I knew nothing about CPF contribution.

And I’ve assumed – for the longest time – that if I were to continue with this line of work, it’s just not something I have to care about.

But as part of my efforts to embrace #adulting, I decided to read up on CPF contributions for self-employed individuals just to see why it’s mandatory (for MediSave at least) and find out if there’s even any benefit to doing so.

So if you’re currently self-employed, or are an entrepreneur starting your own business… I’ve already done the homework for you.

Here’s everything you need to know about CPF contributions if you’re a self-employed person.

Am I Considered “Self-Employed”?

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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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