Medisave lucky draw for self-employed..??
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This reminds me of those cheesy side-show games in fun fares where you pay a few dollars for a go at those short little poles with tiny hoops for a chance of winning one of those cheesy looking stuff toys they have on display...
Come on PAP if your Medisave is so beneficial and that it works, why the need for so much coercion? Coaxing even?
People, these self-employed knows better than to cough up contributions for the puny benefits in medical costs...
STop all these lame ideas and really come down to the level of these low-income self-employed and see the reality for yourselves!!!
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Govt introduces Medisave lucky draw for self-employed, informal workers
By Pearl Forss, Channel NewsAsia | Posted: 14 September 2007 1940 hrs
SINGAPORE : Low-income self-employed and informal workers who contribute to Medisave could win up to S$3,000 in cash in several lucky draws held next year.
It is the latest way in which the government is helping low-income informal workers build their nest egg.
To entice some 100,000 low-income self-employed persons and informal workers to contribute to their Medisave accounts, the government is now turning to lucky draws.
So if a worker's monthly income is less than S$1,500, and he is living in a property with an annual value of less than S$10 000, every Medisave contribution made could earn him a chance to win cash.
There will be three quarterly draws in June, September and December next year, where up to S$3,000 could be won.
There will also be a grand draw in March 2009, where an eligible person could win up to S$5,000.
Gan Kim Yong, Minister of State for Manpower, said that there are some workers, especially in the low-income group, who are more interested in having a higher take-home pay. By mutual agreement with their employers, these workers receive cash rather than contribute to the CPF.
"This will undermine their financial security in the long term when they grow old," he said.
Chances for each draw will be awarded in proportion to the amount of Medisave liability paid before the draw.
For example, if a person's Medisave liability is S$300, and he contributes that sum fully before May next year, he will have 40 chances at the draw.
But even if the sum is paid in instalments, he will still have a chance at the draw, except that it is smaller.
For every 10 percent of the Medisave liability fulfilled by each quarterly draw, the participant will receive one chance to participate in that quarterly draw.
This scheme will run for three years.
The Medisave contribution draw is just one of several ways in which the government is trying to encourage more informal workers to contribute to the CPF.
In the last few months, the government has also been talking to employers, restaurant associations, and running publicity campaigns through the Community Development Councils to raise awareness on the merits of CPF contribution. - CNA/ms -
$3000 cash? tsk tsk.
they will go to medisave. -
i bet the contributions will be much higher than the money given out for the lucky draw.
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obviously.. looks like ppl are slowly waking up to whats beneficial and whats not..Originally posted by dragg:i bet the contributions will be much higher than the money given out for the lucky draw.
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Like all scams, it preys on greedy people.
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i think these people are smart enough not to contribute the money. Just use a small fraction of the savings in contribution to CPF and buy 4D or Big Sweep instead. The odds and prize money may be better
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i will rather use the money to wager on 4d. at least my winnings wont be stucked in the medisave account.Originally posted by kilua:i think these people are smart enough not to contribute the money. Just use a small fraction of the savings in contribution to CPF and buy 4D or Big Sweep instead. The odds and prize money may be better -
As with all scams, coercion, enticement and intimidation are indispensable tactics quintessential to its success...
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everything also cant bet on nw. even medisave also can. ever since the casino announced everything goes le....
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for those low income workers, they care for the next meal. not money in the CPF they cannot use until they almost gonna die.
especially not some lame luckydraw to coax them to put money in then later realise they dont hit lucky draw and jialat cannot withdraw the money.
PAP really treats us like idiots -
Singaporeans love lucky draws. -LHL
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i remember reading someone writting to ST forum saying that our zoo is more like a circus than an educational place, now this. singapore is like one big circus now, everything is to make more money and if you dont like a certain policy, we dont care to understand your objections but just sweeten the deal to tempt u.
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i thought at one time they were hauling those who default in their medisave payments to court? Now change tactic?
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Ok, I wanted to post something regarding this for quite awhile already. The Govt has came up with a scheme called Workforce Income Supplement Scheme(WIS) which is based on Workforce Bonus Scheme(WBS) is the past few years. This new scheme is flawed as the payouts for Self Employed people (this includes hawkers, cleaners or anyone who does not contributes to their CPF account). In my opinion, why should informal workers be considered as Self Employed? It's highly dubious.
Next, in the past few years, the Govt gives cash($300-$600) to anyone who earns less than $1500/month and who are above 35 years of age with an annual value of the home not exceeding $10,000. This is the criteria and payout for WBS. However, in WIS, the payouts for Self Employed(informal workers too) goes into their Medisave account. Not only that, the person would also be required to contribute some amount ranging from $33-$150 into their Medisave account to receive the benefits.
Now tell me, imagine an elderly man/woman working as a cleaner. He/She has been receiving the WBS payouts to facilitate their daily expenses. They do not earn more than $600 a month, yet now they are to contribute money to their Medisave account to receive the benefits. Moreover, the benefits go into their Medisave account, not into their wallets.
Many such elderly can't even afford 3 meals yet they have to contribute to their Medisave just to receive the benefits? In the past, it was not so. It was as recent as last year where the old system was more feasible and the elderly and low wage workers had the WBS to look forward to, to offset their expenses.
This Medisave contributions does not includes their own voluntary contributions, so if Mr. XYZ has contributed $100 every month into his Medisave account, he would still be required to contribute another amount to receive the WIS benefits.
I certainly hope the Govt changes this system and allow the elderly to enjoy the benefits. The money received by them are going into their Medisave, not Ordinary or Special accounts so until they die, they can't use it unless it's for medical expenses.
Now let me ask you, if you can't even afford to eat, will you care about your medical expenses? If your Medisave has reached it's ceiling($33,500) do you want the benefits plus your own 'forced' contribution into oblivion? I doubt so.
Employees so receive the WIS benefits have the money split into cash and CPF contribution of 1:2.5, it's low but they still receive cash and some money being saved in their Ordinary account. Why do the Self Employed and informal workers can't enjoy such benefits?
It is very sad when I see people who have shed blood for the improvement of the country but have to endure such dubious policies when they become old.
This Medisave lucky draw is just to entice the Self Employed and informal workers to apply for this WIS Scheme as many people are shunning it, as the benefits are too trivial and the cost of receiving it is not pragmatic.
The $3,000 cash draw is held 4 times over the period of 2007-2010, the Grand Draw of $5,000 is held in 2010. The amount given and the time taken is just not feasible, the ministers eat abalone and the common elderly eat rice yet both have a full stomach. But what about those who work for $20/day and are looking forward to the WBS but yet get this?
It is very sad indeed, I hope I get a positive reply.
Oh and yes, Chuck Norris would roundhouse kick the WIS into oblivion if he were here. -
Bravo!!! Well said!Originally posted by DjMatrix:Ok, I wanted to post something regarding this for quite awhile already. The Govt has came up with a scheme called Workforce Income Supplement Scheme(WIS) which is based on Workforce Bonus Scheme(WBS) is the past few years. This new scheme is flawed as the payouts for Self Employed people (this includes hawkers, cleaners or anyone who does not contributes to their CPF account). In my opinion, why should informal workers be considered as Self Employed? It's highly dubious.
Next, in the past few years, the Govt gives cash($300-$600) to anyone who earns less than $1500/month and who are above 35 years of age with an annual value of the home not exceeding $10,000. This is the criteria and payout for WBS. However, in WIS, the payouts for Self Employed(informal workers too) goes into their Medisave account. Not only that, the person would also be required to contribute some amount ranging from $33-$150 into their Medisave account to receive the benefits.
Now tell me, imagine an elderly man/woman working as a cleaner. He/She has been receiving the WBS payouts to facilitate their daily expenses. They do not earn more than $600 a month, yet now they are to contribute money to their Medisave account to receive the benefits. Moreover, the benefits go into their Medisave account, not into their wallets.
Many such elderly can't even afford 3 meals yet they have to contribute to their Medisave just to receive the benefits? In the past, it was not so. It was as recent as last year where the old system was more feasible and the elderly and low wage workers had the WBS to look forward to, to offset their expenses.
This Medisave contributions does not includes their own voluntary contributions, so if Mr. XYZ has contributed $100 every month into his Medisave account, he would still be required to contribute another amount to receive the WIS benefits.
I certainly hope the Govt changes this system and allow the elderly to enjoy the benefits. The money received by them are going into their Medisave, not Ordinary or Special accounts so until they die, they can't use it unless it's for medical expenses.
Now let me ask you, if you can't even afford to eat, will you care about your medical expenses? If your Medisave has reached it's ceiling($33,500) do you want the benefits plus your own 'forced' contribution into oblivion? I doubt so.
Employees so receive the WIS benefits have the money split into cash and CPF contribution of 1:2.5, it's low but they still receive cash and some money being saved in their Ordinary account. Why do the Self Employed and informal workers can't enjoy such benefits?
It is very sad when I see people who have shed blood for the improvement of the country but have to endure such dubious policies when they become old.
This Medisave lucky draw is just to entice the Self Employed and informal workers to apply for this WIS Scheme as many people are shunning it, as the benefits are too trivial and the cost of receiving it is not pragmatic.
The $3,000 cash draw is held 4 times over the period of 2007-2010, the Grand Draw of $5,000 is held in 2010. The amount given and the time taken is just not feasible, the ministers eat abalone and the common elderly eat rice yet both have a full stomach. But what about those who work for $20/day and are looking forward to the WBS but yet get this?
It is very sad indeed, I hope I get a positive reply.
Oh and yes, Chuck Norris would roundhouse kick the WIS into oblivion if he were here.
This is my exact sentiments as well...!
The government simply refuses to look at realities surrounding the low-income self-employed, and yet continues to come up with these Half-Baked (no actually UNCOOKED), Half-Assed policies and so called "solutions"....
And Don't anybody come and ask me "have you any better ideas?", coz there is NO NEED for any "ideas" or "solutions" in this area - just...
"PAP, FARKING LEAVE THE POOR ALONE IF YOU DON'T WANNA HELP!!!" -
No rebuttals? Hmm, Gazelle?Originally posted by DjMatrix:Ok, I wanted to post something regarding this for quite awhile already. The Govt has came up with a scheme called Workforce Income Supplement Scheme(WIS) which is based on Workforce Bonus Scheme(WBS) is the past few years. This new scheme is flawed as the payouts for Self Employed people (this includes hawkers, cleaners or anyone who does not contributes to their CPF account). In my opinion, why should informal workers be considered as Self Employed? It's highly dubious.
Next, in the past few years, the Govt gives cash($300-$600) to anyone who earns less than $1500/month and who are above 35 years of age with an annual value of the home not exceeding $10,000. This is the criteria and payout for WBS. However, in WIS, the payouts for Self Employed(informal workers too) goes into their Medisave account. Not only that, the person would also be required to contribute some amount ranging from $33-$150 into their Medisave account to receive the benefits.
Now tell me, imagine an elderly man/woman working as a cleaner. He/She has been receiving the WBS payouts to facilitate their daily expenses. They do not earn more than $600 a month, yet now they are to contribute money to their Medisave account to receive the benefits. Moreover, the benefits go into their Medisave account, not into their wallets.
Many such elderly can't even afford 3 meals yet they have to contribute to their Medisave just to receive the benefits? In the past, it was not so. It was as recent as last year where the old system was more feasible and the elderly and low wage workers had the WBS to look forward to, to offset their expenses.
This Medisave contributions does not includes their own voluntary contributions, so if Mr. XYZ has contributed $100 every month into his Medisave account, he would still be required to contribute another amount to receive the WIS benefits.
I certainly hope the Govt changes this system and allow the elderly to enjoy the benefits. The money received by them are going into their Medisave, not Ordinary or Special accounts so until they die, they can't use it unless it's for medical expenses.
Now let me ask you, if you can't even afford to eat, will you care about your medical expenses? If your Medisave has reached it's ceiling($33,500) do you want the benefits plus your own 'forced' contribution into oblivion? I doubt so.
Employees so receive the WIS benefits have the money split into cash and CPF contribution of 1:2.5, it's low but they still receive cash and some money being saved in their Ordinary account. Why do the Self Employed and informal workers can't enjoy such benefits?
It is very sad when I see people who have shed blood for the improvement of the country but have to endure such dubious policies when they become old.
This Medisave lucky draw is just to entice the Self Employed and informal workers to apply for this WIS Scheme as many people are shunning it, as the benefits are too trivial and the cost of receiving it is not pragmatic.
The $3,000 cash draw is held 4 times over the period of 2007-2010, the Grand Draw of $5,000 is held in 2010. The amount given and the time taken is just not feasible, the ministers eat abalone and the common elderly eat rice yet both have a full stomach. But what about those who work for $20/day and are looking forward to the WBS but yet get this?
It is very sad indeed, I hope I get a positive reply.
Oh and yes, Chuck Norris would roundhouse kick the WIS into oblivion if he were here. -
Why not PAP pass the Law by imposing penalties on patients who admitted to hosiptal for more than 3 times. Fine 20 K or confiscate all the Medisave or whichever in lower.... or, put the person to sleep....if he or she have insufficient fund to live on?
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well said DJmatrix. i said almost the same thing just your england more powderful
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All these so call CPF, Medisave, Special Account, Medishield, POSBank, HDB housings, baby bonus... damn... and what have you... these are just reserviors of citizens $$$ for the gahmen to tap on. If not how can they be paid that high, how can thay screw up big time in suzhou? How Tumasick got money to invest?