In the report, “Stagnating incomes mean gig workers must get head start on financial planning: Experts” (March 11), the writer highlighted that one needs to have savings, emergency funds and insurance for a stable future.

NTUC and these NTUC-affiliated associations – the National Taxi Association (NTA), the National Private Hire Vehicles Association (NPHVA) and the National Delivery Champions Association (NDCA) – are concerned about the ability of taxi drivers and platform workers to save and plan for their mid- to long-term finances.

Platform workers’ low median income has remained at $2,000 since 2022, limiting their ability to meet daily expenses and save adequately, which is worsened by higher inflation.

Over the years, NTUC and these affiliated associations have worked on practical solutions to help boost the financial resilience of taxi drivers and platform workers.  

In November 2010, NTA and the then seven taxi companies in Singapore established a Drive and Save (DAS) scheme. Principal hirers make monthly contributions towards their MediSave account, matched with a capped amount by their taxi companies.

The Central Provident Fund (CPF) Board collaborated with NTA and taxi companies to implement the scheme in January 2011.

Taxi drivers appreciate the DAS scheme as it helps many to meet the MediSave contribution requirement to renew their vocational licence, and the eligibility criteria for the Government’s Workfare Income Supplement.

Further, NPHVA has worked with AUPE Credit Co-operative Limited to help its members establish savings plans and access hospitalisation benefits. Members say these savings help ease their financial worries when they buy pricier items like laptops for their children’s education, or when unexpected expenses, such as those from accidents, arise.

NTA, NPHVA and NDCA, together with NTUC-U Care Fund, have introduced a Work Injury Relief Scheme to provide $250 grocery vouchers for platform worker members who are injured during delivery or transport work and issued five or more days of medical leave.

Additionally, these affiliated associations have sought opportunities for platform workers to pursue alternative income sources, such as training for roles like medical escorts. 

Beyond such initiatives, NTUC and these affiliated associations have advocated for more to be done on a larger scale to bolster platform workers’ financial resilience.

We are heartened that tripartite efforts with the Government and platform sector will bring about changes to provide platform workers with CPF contributions and work injury compensation coverage similar to full-fledged employees.

Raymond Ong
President
National Taxi Association

Goh Yong Wei
President
National Delivery Champions Association

Mohamad Azan Salleh
President
National Private Hire Vehicles Association