What are the benefits if I opt in to increased CPF contributions as a platform worker?
- You can receive up to 17% in monthly CPF contributions from your platform operator by 2029.
- Your Ordinary Account savings can be used for your housing loan, freeing up your cash for other needs.
- If you are above 65, your share of CPF contributions will decrease, but you receive higher total CPF contributions, due to the platform operator share of contributions.
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Non-opt-in
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Opt-in
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Share of CPF contributions |
Consist only your share of CPF contributions. There is no platform operator share of CPF contributions.
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Consist of both you and your platform operators’ share of CPF contributions. The CPF contribution rates for both will gradually increase over five years to align with those of employees and employers, reaching up to 20% and 17% respectively by 2029. |
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Allocation of CPF contributions |
MediSave Account only |
All three CPF accounts: 1. Ordinary Account - For housing 2. Special or Retirement Account - For retirement 3. MediSave Account - For healthcare |
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Submission of CPF contributions |
Your platform operator will deduct your share of CPF contributions from your earnings and submit them to CPF Board every monthly. | |
This information is sourced from CPF
Related questions
Why am I not able to reverse my decision after I have opted in to increase my CPF contributions as a platform worker?
What are the benefits of CPF contributions for platform workers?
How do I opt in to increase my CPF contributions as a platform worker and how soon will it take effect?
Is there a deadline to opt in as a platform worker for increased CPF contribution?
