As of 1st January 2025, the Platform Workers Act, will come into effect. The Platform Workers Act implements the recommendations of the Advisory Committee on Platform Workers to strengthen protections for platform workers. You can read more about it here.
Here’s a quick overview of the changes and the options you may have:
To learn more, please visit CPF website.
If you are born before 1 January 1995, you can:
CPF contributions for platform workers are savings set aside for your retirement, healthcare, and housing needs.
Platform workers are individuals who provide services through online platforms, such as delivery riders and private-hire drivers.
If you are mandated or choose to opt in for increased contribution rates, a portion of your earnings will go towards your CPF account, with the platform’s contributions added on top of it. This means that while your take home earnings may be reduced, your overall earnings are increased given the platform contribution. Deliveroo will deduct your contributions from earnings, and submit them to the CPF board along with any Deliveroo contributions based on the rates specified by CPF Board.
If you choose to not opt in, a portion of your earnings will continue to go into your Medisave account. Deliveroo will deduct medisave contributions from your earnings, and submit them to the CPF board on your behalf based on the rates specified by CPF Board.
Yes. Deliveroo will deduct and submit your Medisave contribution based on the rates specified by CPF Board. For detailed rates on your contributions, please refer here for more information.
If you have any questions, you can contact our support team or visit the CPF website for comprehensive information and resources.
Starting Nov 2024, you may choose to opt-in via CPF website. There will be no deadline to opt-in however do note that once you opted-in, the process is irreversible. Once opt-in is successful, you will receive a confirmation email and SMS from the CPF board.
If you opt in on or before the 15th of a month, the increased contributions will start from next month.
If you opt in after the 15th of a month, the increased contributions will start two months later.
For example, if a platform worker opts in on 15 April, the increased contributions will apply from 1 May. However, if a platform worker opts in on 16 April, the increased contributions will apply from 1 June.