CPF and MediSave Contributions

Updates

January 10, 2025

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CPF and MediSave Contributions

The Platform Worker Bill takes effect from 1 Jan 2025 and seeks to strengthen the protection for platform workers in three areas: (1) CPF contributions, (2) Work injury compensation (WIC)*, and (3) Platform work association representation.

More details can be found in the respective sections below.

Do note that opting in to CPF contributions may lower your take-home earnings.

CPF

Effective 1 Jan 2025, CPF contributions will be deducted from your platform earnings by Geolah and submitted to the CPF Board (CPFB) every month (if applicable).

If you are born on or AFTER 1 Jan 1995

Your CPF contribution, which includes both your share and Geolah’s share, will be allocated to all three CPF accounts (Ordinary, Special/Retirement, MediSave) to help grow your CPF savings and support your housing, retirement, and healthcare needs.
The share of CPF contributions will gradually increase to align with employees and employers by 2029.

If you are born BEFORE 1 Jan 1995

You have the option to opt in to contribute to all three CPF accounts (Ordinary, Special/Retirement, MediSave) but note that you CANNOT OPT OUT once you have made the decision.
If you do not opt in, you will continue to contribute to your MediSave account only. Geolah will also collect the Medisave contribution based on your earnings and submit it to the CPF Board on your behalf.
If you want to opt in, you can do so via CPFB’s portal. There is NO deadline for opt-in.
Your opt-in status will apply to all platform operators you drive with.

Do note that opting in to CPF contributions may lower your take-home earnings.

CPF contribution is based on net earnings

Net earnings = Gross earnings x (100% – Fixed Expense Deduction Amount of 60%)

Fixed Expense Deduction Amount (FEDA) is the sum of all allowable business expenses incurred in earning platform income and is fixed at 60% for cars.

*This table indicates the maximum contribution rates for each age group and is merely for reference. For your specific contribution, please use the link below. Contribution rates may be lower for driver-partners whose Net Earnings is below $750 for the calendar month.

Calculate your platform workers’ CPF contributions here.

*www.cpf.gov.sg/member/tools-and-services/calculators/platform-worker-cpf-contribution-calculator

How will Geolah collect and pay my contributions to CPF or MediSave?

Your CPF or MediSave contribution will be withheld for every trip or transaction (eg. incentives, tips) based on the maximum contribution rate for your age group. You will be able to see the amount withheld for CPF or MediSave in your Transaction History after each transaction is completed and can also find the total on the Wallet Summary screen.
At the end of each month, we will determine your actual CPF contribution rate based on your total monthly net earnings. If the actual CPF contribution determined is lower than the CPF contributions collected, the excess contribution will be returned to your Earnings wallet by the 14th of the following month.
Geolah will submit the actual contribution to the CPF Board in the following month, together with Geolah’s Platform Operator share (if applicable). You will receive a monthly statement that summarizes your total earnings as well as CPF or MediSave contributions by the 14th of the following month as well.

See examples below:

Platform Workers CPF Transition Support (PCTS)

Between 2025 and 2028, lower-income platform workers who are required to, or have opted in to make increased CPF Ordinary and Special Account contributions will receive monthly cash payments under the Platform Workers CPF Transition Support (PCTS) scheme. This helps to mitigate the impact of the increased CPF contributions on platform workers during this period of change.

Learn more about CPF contributions for platform workers here.

If you have any further questions, please contact CPFB at: https://www.cpf.gov.sg/service/write-to-us

Work Injury Compensation (WIC)

WIC is Work Injury Compensation* for accident-related injuries that have the same scope as employees under the WIC Act (WICA). It takes effect from 1 Jan 2025 and covers three components:

(1) Medical Expenses
(2) Medical Leave & Hospitalisation Leave
(3) Lump-sum Compensation for Death or Permanent Incapacity

*Note: WICA covers a wider range of compensations for work-related accidents and will therefore replace the existing free accident coverage for all driver-partners and Gigacover’s Freelancer Earnings Protection (FLEP) for Pro/Elite tier driver-partners from 1 Jan 2025.