By MoneyBees
The MediSave you pay as a self-employed person on CPF's 2026 rates by age and net trade income, the S$12,000 to S$18,000 phase-in, the cap and the BHS overflow.
Yes, if you are a Singapore citizen or PR and your net trade income for the year is above S$6,000. CPF Board works out the amount from your income as IRAS assesses it.
For net trade income above S$18,000: 8% below 35, 9% from 35 to below 45, 10% from 45 to below 50 and 10.5% from 50, by your age on 1 January. Lower rates of 4% to 5.25% apply above S$6,000 to S$12,000.
CPF phases the rate in. Below 35, you pay S$480 plus 16% of your income above S$12,000. The other age groups use S$540 plus 18%, S$600 plus 20% and S$630 plus 21%.
S$7,680 below 35, S$8,640 from 35 to below 45, S$9,600 from 45 to below 50 and S$10,080 from 50 in 2026. These equal the full rate on S$96,000. Pensioners pay at most S$5,760.
CPF Board sends a notice of CPF contributions after IRAS assesses your income. Pay in full within 30 days of the notice, or set up a GIRO instalment plan.
Yes. Any amount above the S$79,000 Basic Healthcare Sum moves to your SA, or your RA from 55, up to the Full Retirement Sum, then to your OA.
Yes. You get full tax relief on the compulsory MediSave you pay as a self-employed person.
CPF Board says you can apply for or renew your licences only once you have paid in full or set up a GIRO instalment plan.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).