Taxi Operators' Associations pleased with Comfortdelgro's contribution to Hirers' CPF
25 February 2008
Media Statement
1 The Taxi Operators’ Associations (TOA) are pleased with ComfortDelGro’s decision to pass on the savings from the reduction in road tax to their taxi hirers or drivers. The savings worth $2.7 million will be paid in two instalments in May and November respectively into their hirers’ CPF accounts.
2 The Comfort Taxi Operators’ Association (CTOA) and the CityCab Operators’ Association (CCOA) strongly support this move from the company, which will benefit the hirers.
3 TOA continues to urge other taxi companies to plough back their savings arising from the road tax reduction into their hirers’ CPF accounts. This will help the hirers, who are essentially self-employed, build up the Minimum Sum in their CPF and subsequently, sign up for one of the CPF Life plans to enjoy lifelong income. Ultimately, this will strengthen the social safety net for taxi drivers.
4 Mr Seng Han Thong, advisor to TOA, said: “ComfortDelGro’s move to help their taxi hirers contribute to CPF is a good example for company-based or association-based self-employed workers to come onboard the CPF Life. At the same time, hirers and their families can top up their Minimum Sum from time to time. In this way, these hirers can enjoy the benefits of CPF and top-ups from the Government.”
5 Mr Nah Tua Bah, president of the Comfort Taxi Operators’ Association, said: “The contribution from the company would be very helpful to younger taxi hirers in building up their Minimum Sum. For older hirers, they can be assured of some form of financial protection when they are able to sign up for CPF Life. It also goes beyond the benefit of the hirer and would help their families too, so we appreciate this announcement from the company.”
6 Mr Robin Ng Kian Tiong, president of the CityCab Operators’ Association, said, “Taxi hirers should not only have Medisave account for our medical needs, we also need to build up the Minimum Sum to prepare for the future. I would always top up my Minimum Sum when I earn more so that I could be assured of life long income in future as I want to be self reliant”.
7 Mr Kua Hong Pak, Managing Director and Group CEO of ComfortDelGro, said: “We are thankful that the Government has extended the road tax reduction to taxis and we have already decided to pass these reductions fully to our drivers. The annual savings of $2.7 million is significant to us – but it is even more significant to our drivers. These, coupled with the benefits and diesel price discounts that we continue to extend to our drivers, are helpful in reducing operating costs for them.”
Jointly issued by:
Robin Ng Kian Tiong
President
CityCab Operators’ Association
Nah Tua Bah
President
Comfort Taxi Operators’ Association
