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Base NS Pay of $1,600 for Self-Employed NSmen


Scenario Calculations

Insurance agent, holding 3SG rank,

attending a High-Key ICT

Period of NS Activity: 3 to 14 Oct 2022

Calendar days for NS Activity: 12 days

Total number of calendar days in Oct: 31 days

 

Service Pay (SP) (Based on Calendar Days)

Monthly SP of 3SG: $990

SP for NS Activity period: $990 x (12/31) = $383.23

[If NSman has provided consent and trade income data from IRAS is available]

MUP payments will be automatically generated using the Income Tax Option (see sample calculation for Auto-Generated MUP Claim for Self-Employed NSmen – Income Tax Option)]

[If NSman has not provided consent, trade income data from IRAS is not available, and no claim was submitted]

Base NS Pay for NS activity period: $1,600 x (12/31) = $619.35

Top up = Base NS Pay – SP = $619.35 – $383.23 = $236.12

NSman will be credited SP of $383.23 and a top-up of $236.12 as a result of base NS Pay.