The maximum CPF contribution rate for platform workers who do not opt in will remain at 8% to 10.5%, depending on their age and income. They will also only need to make MediSave contribution if they earn above $500 in a month from a platform.

 

Some platform workers may see a difference in CPF contribution rate due to changes in the way CPF contribution is computed and collected. Today, platform workers’ earnings are aggregated across platforms and assessed annually when computing the applicable MediSave contribution. Moving forward, platform operators will be making CPF contribution on a monthly basis and based on earnings on each platform.

 

CPF contribution rates are tiered based on income – a platform worker earning below $750 will have a lower CPF contribution rate. Overall, whether platform workers’ CPF contribution rate is lower or higher as compared to today depends on their individual circumstances. For example, if platform workers have multiple income streams from different platforms, and if their income for each platform is low, platform workers will be subject to the lower CPF contribution that is now applied on a per platform basis.