18 Feb '11, 9am

Workfare special bonus for more than 400,000 workers: MORE than 400,000 working Singaporeans will benefit from a...

Workfare special bonus for more than 400,000 workers: MORE than 400,000 working Singaporeans will benefit from a...

Fifty per cent more Workfare Income Supplement (WIS) payment for work done in 2010 will be paid out, and 25 per cent more for work done in 2011 and 2012 each. -- ST PHOTO: ASHLEIGH SIM MORE than 400,000 working Singaporeans will benefit from a workfare special bonus, said Finance Minister Tharman Shanmugaratnam on Friday. Fifty per cent more Workfare Income Supplement (WIS) payment for work done in 2010 will be paid out, and 25 per cent more for work done in 2011 and 2012 each. Employees will receive these entirely in cash, with the first payout on May 15, 2011. Employees contributing to the Central Provident Fund will get the bonuses automatically, while the self-employed who make Medisave contributions will get half of the bonus in cash and the other half in their Medisave account. The amount set aside for the workfare special bonus: $224 million in the Financial Year 20...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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