Personal Finance
How Can the Workfare Income Supplement (WIS) Scheme Help Me Build My CPF Savings?
By Seedly  •  September 3, 2020
The Government has rolled out several initiatives in a bid to keep its citizens afloat during this economic crisis. We’ve seen four different budgets rolled out in a span of a few months (Unity Budget 2020Resilience Budget 2020Solidarity Budget 2020Fortitude Budget 2020), and also an added support of $8 billion to continue supporting workers and jobs. During the speech made by DPM Heng, he also mentioned that more workers will be eligible for the Workfare Special Payment, which was previously only available for those on the Workfare Income Supplement (WIS) Scheme. With my friend recently getting a letter notifying her of this payout, I decided to take a look at what this scheme was about, and how it could help us Singaporeans.

What is the Workfare Income Supplement (WIS) Scheme?

Source: Workfare Workfare was introduced mainly to help Singaporean workers with earnings at the bottom 20% percentile, with some support for those slightly above this range....
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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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