In January 2011, the Drive and Save (DAS) scheme was introduced by the National Taxi Association, with support from all taxi operators to help taxi principal hirers inculcate a habit of saving for future medical needs. Under the DAS scheme, taxi principal hirers are encouraged to contribute $15 monthly to their Medisave Account, and their respective taxi operator will co-contribute another $15 to the hirer’s Medisave Account. Built up over the years, these regular contributions can make a meaningful difference to a taxi driver’s Medisave savings.
With effect from 1 March 2016, NTA and five taxi operators – ComfortDelgro, Transcab, SMRT, Premier and Prime have agreed to further enhance the DAS by increasing the monthly contribution quantum to $20. This represents a 30 per cent increase in the annual contribution to hirers’ Medisave Account from $360 to $480.
To date, more than 19,200 taxi principal hirers are contributing and benefitting from the DAS scheme. With this increase, NTA hopes it will benefit the existing drivers already on the scheme and to encourage the existing pool of taxi principal hirers who have yet to be on board, to join the DAS scheme.
“As a self-employed taxi driver, I see the importance of saving regularly in particular for Medisave, not just for myself but also for the sake of my family members. I am happy that this amount will increase next year. This will definitely help me defray some of the costs for the new MediShield Life premium”, said Raymond Ong, 54, Comfort Taxi Driver.
NTA, the Central Provident Fund (CPF) Board and taxi operators will be working together in the next few months to reach out to drivers, to inform them of the newly revised quantum for DAS scheme. A new bilingual brochure will also been published to help hirers understand the changes, and encourage them to partake in the enhanced scheme.
“We wish to thank all the taxi operators, CPF Board, Ministry of Manpower and Land Transport Authority who have been extremely supportive of this effort to help drivers enhance their Medisave savings. Being self-employed, it is important that taxi drivers take responsibility for building up their Medisave savings by contributing to their Medisave themselves. This increase also comes at an appropriate time and will go a long way to help our drivers defray partial of the premium payable for the new compulsory MediShield Life scheme,” said Mr Ang Hin Kee, Executive Advisor for the National Taxi Association.
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