What are the benefits of CPF contributions for platform workers?
CPF contributions for platform workers and platform operators will gradually increase over five years from 2025 to 2029 to align to those for employees and employers. This enables you to achieve the same level of housing and retirement adequacy as employees who earn the same amount.
The increased CPF contributions will be mandatory for platform workers born in or after 1995 and the CPF contributions will be allocated to all three CPF accounts – Ordinary, Special or Retirement and MediSave account. Older cohorts can choose to opt in to the increased CPF contributions. If you choose not to opt in, you will be required to continue to make MediSave contributions, and will not receive the platform operator share of CPF contributions.
To ensure a seamless process, platform operators will submit CPF contributions for all platform workers every month, by deducting your share of CPF contributions from your income as and when you earn. If you do not opt in, platform operators will deduct just the MediSave contributions as and when you earn.
This information is sourced from CPF
Related questions
If I do not opt in to increase my CPF contributions as a platform worker, will I be subject to the same CPF contribution rate as before 1 January 2025?
Why is it mandatory for platform workers born in 1995 or later to have increased CPF contributions aligned to employees, while those born before 1995 have the option to opt in?
What are the benefits if I opt in to increased CPF contributions as a platform worker?
Why will the Workfare Income Supplement for platform workers be aligned with that of employees only in 2029 when their increased CPF contributions are implemented in 2025?
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