If you’re self-employed in Singapore, you probably already know the hustle of managing your work, your invoices, your taxes… and yes, your MediSave contributions. Mess up your MediSave and it’s not just a slap on the wrist, we’re talking fines, license renewal issues, and missed tax reliefs that could’ve saved you thousands. In this post, you’ll learn:

• Who’s considered a self-employed person under CPF rules
• How much you actually need to contribute
• What MediSave can be used for
• The benefits you’re probably missing out on

And how to stay compliant with CPF rules (without draining your cash flow). Who is considered a self-employed person under the CPF system? If you work for yourself, chances are, you fall under the Self-Employed Scheme (SEP). According to CPF’s definition, a self-employed person is someone who runs their own business or does freelance work, and earns money not as an employee, but from the sale of goods or services....