Remember ME - You Me and Dementia
November 14, 2007
SINGAPORE: Provident Fund Rules Now Give More Clout To Workforce Scheme
SINGAPORE (Today), November 13, 2007:
Amendments to the Central Provident Fund (CPF) Act, passed yesterday, will give the Workfare Income Supplement (WIS) scheme legislative teeth to prevent any abuse. Anyone guilty of making false declarations can be fined up to $2,500 for first offences and up to $10,000 for second and subsequent offences.
The amended law also allows the CPF Board the right to recover and adjust WIS payments already made if there are any changes in a person's earnings. Payments will be made in two lots - the first will be provisional and the second will be adjusted when a person's final average income is declared. The changes take effect on January 1.
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