Personal Finance
Gig Workers, You Will Have to Make CPF Contributions From 2024
By Seedly  •  November 24, 2022
Shock Source: Tenor 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?

Gig Workers Below 30 Years Old Have to Contribute to CPF Soon 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...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.

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