Eligible platform workers to get big boost in CPF savings, cushion to protect take-home pay
He added that older cohorts of platform workers can also benefit from additional contributions by platform companies.
He also addressed the worries and concerns of the platform companies and older platform workers over the latest move. Acknowledging the cost implications of the move, he said each stakeholder had to play a part, including consumers. Take for example a median income platform worker who turns 30 in 2024 and who earns $2,000 per month. He will have to opt in to the aligned CPF contribution rates from the start.
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