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The CPF Medisave Contribution Draw aims to encourage low-wage self-employed persons and informal workers to build up their Medisave accounts
 WHEN Mr Cheng Kui Leung received a letter from the Central Provident Fund (CPF) Board last year inviting him to top up his Medisave Account, he took it up to help him pay his medical bills.
The self-employed fishmonger, who draws from his Medisave account to pay for his diabetes treatment, says he chooses to put his money into his Medisave Account “to be prepared”.
“I’ve known long ago that both medical and educational costs will
be going up,” says Mr Cheng, who has been undergoing treatment for diabetes for 20 years.
“Having sufficient funds for medical fees is essential.”
When he was picked as the winner of the first Medisave Contribution Draw held on June 7, it came as a bonus for him. Mr Cheng walked away with $3,000 in cash.
The second and third prize winners won $2,000 and $1,000 respectively, while another 300 winners took home $100 each.
The Medisave Contribution Draw, introduced in 2008, aims to encourage low-income self-employed persons and informal workers to contribute to their Medisave accounts.
One chance is awarded for every 10 per cent of Medisave liabilities fulfilled.
 Those who have fulfilled their liability are given the maximum 10 chances.
Some 57,400 self-employed persons qualified for the draw held last month, for work done in 2009.
Three more quarterly draws are planned, with the final one slated for March next year.
Mr Cheng, who formerly worked in the Republic of Singapore Navy, has been waking up at 3am for the past 13 years for his work.
Every morning, he makes his way to Jurong Fish Port to buy the catch of the day from the wholesalers.
Then he goes to Block 89 at Circuit Road and prepares his market stall for the morning crowd.
His work is done by 5pm after he cleans up the stall and closes for the day.
This is a 14-hour daily routine for Mr Cheng, who turns 60 in August.
He has two sons and a daughter, but he does not plan on depending on his children to help him with his medical bills.
“They have their own obligations and burdens. I should not depend on them,” he says.
Asked what he was going to do with his $3,000 cash prize, Mr Cheng says: “I will use it to top up my Medisave savings.”
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