The National Private Hire Vehicles Association (NPHVA) is delighted with Grab’s announcement of a voluntary Central Provident Fund (CPF) Medisave co-contribution scheme for full-time private hire vehicle (PHV) drivers. This move can potentially benefit thousands of eligible GrabCar drivers. Under the GrabCar MediSave Programme, Grab will match up to $200 per month of a driver’s contribution to the individual’s MediSave account.
The NPHVA first approached Grab in 2016 on voluntary contribution towards CPF savings of GrabCar drivers. This is especially important for those who derive their main source of income from driving. From the start, Grab understood the national imperative for individuals to save for their retirement and medical needs through CPF. Grab was supportive of NPHVA’s request and the NPHVA arranged meetings between CPF Board and Grab to have better understanding of the obligations and mechanics of such voluntary CPF contribution.
The NPHVA strongly urges all eligible GrabCar drivers to participate in the scheme and strengthen their CPF savings. With matching contribution from Grab, drivers are immediately assured of a 100 per cent return on the monies set aside in CPF up to the stipulated limit.
NPHVA also calls on companies in the industry, including car leasing companies and apps-based platforms, to do more and provide concrete support to PHV drivers, many of whom are self-employed or freelancers, to contribute and grow their CPF savings.
Mohd Randy
Executive Secretary
National Private Hire Vehicles Association
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