What is the purpose of CPF contributions for platform/gig workers?
Improve the housing and retirement adequacy of platform/gig workers by aligning their CPF contribution rates with those of traditional employees.
When will this change take effect?
The changes will take effect from 1 January 2025.
How do I opt in for CPF contributions?
From Nov 2024, you can opt-in via the CPF Board’s portal. There is no deadline to opt-in.
Who is responsible for deducting and submitting CPF contributions for platform workers?
Platform operators are responsible for deducting and submitting CPF contributions on behalf of their platform workers.
What types of CPF contributions will be deducted?
For platform workers who are mandated or opt in to increased CPF contributions, Ordinary, Special, and MediSave contributions will be deducted. For platform workers who do not opt in, only MediSave contributions will be deducted.
What if I have multiple platform operator accounts?
Each platform operator will deduct and submit CPF contributions for your earnings from their platform.
Will my job allocation be affected if I opt in for CPF contribution?
No. CPF contribution does not determine how jobs are being allocated.
Where can I find more information?
Saving as a Platform Worker with CPF – link here Write to CPF – link here Platform Worker CPF Contribution Calculator – link here Platform Workers CPF Transition Support Calculator – link here