Excuse me? Yup, you’ve read that right. Very soon, gig or platform workers
who are below 30 years old
will be required to make contributions to their Central Provident Fund (CPF)
, the national savings scheme for retirement. Currently, only salaried employees are making a contribution rate
of 20% to their CPF account every month.
TL;DR: When Do You Need to Contribute And How Much to Contribute?
Click here to jump: Who’s considered a gig or platform worker? How much do platform workers and companies need to contribute?
New work injury protection for platform workers
Gig or Platform Workers in Singapore
By definition, platform workers refer to food delivery riders
and private-hire car drivers
providing ride-hailing services
. There are currently 73,200 platform workers in Singapore. This move will affect those who are below 30 years old, while those who are older...