As self-employed persons, most taxi drivers are only required to make CPF MediSave Account (MA) contributions from their trade income. To help taxi drivers meet their annual MediSave contribution requirements, and boost their MediSave savings, the Drive and Save (DAS) Scheme was introduced in 2011.<\/p>\n\n\n\n
Read Also: <\/em><\/strong>How Much Self-Employed Persons Need To Contribute To MediSave (And What Happens If You Don\u2019t)<\/em><\/strong><\/a><\/em><\/strong><\/p>\n\n\n\n Under the DAS Scheme, eligible taxi drivers who contribute at least $20 to their MediSave Account each month will receive a co-contribution of $20 from their taxi operators. Taxi drivers can also choose to make lump sum top-ups to their MediSave Account to receive up to $240 in co-contributions.<\/p>\n\n\n\n MediSave contributions from both taxi drivers themselves and taxi companies will count towards their mandatory MediSave contributions payable each year. These contributions will also help taxi drivers who earn $2,300 and less qualify for Workfare Income Support (WIS) in cash payouts and MediSave Account top-ups<\/a>.<\/p>\n\n\n\n All taxi drivers who are the principal taxi hirers will be eligible for the Drive and Save (DAS) scheme. This targeted scheme is also valuable as taxi drivers comprise the second largest group of self-employed persons in Singapore, behind Private Hire Car Drivers on matching platforms, with 22,200 taxi drivers as at 2023.<\/p>\n\n\n\n Taxi drivers do not have to register for the Drive and Save Scheme. Instead, CPF will inform taxi companies when eligible taxi drivers have made sufficient MediSave Account contributions to qualify for DAS co-contributions. The taxi operators will then contribute up to $20 a month or $240 a year.<\/p>\n\n\n\n Apart from helping taxi drivers to meet their MediSave obligations, the Drive and Save (DAS) Scheme is also meant to encourage drivers to make regular contributions to their MedSave Account. Hence, the co-contribution is made on a matching basis.<\/p>\n\n\n\n Even though the amount may be small, such MediSave contributions can help taxi drivers snowball their MediSave Account balances in the long-term.<\/p>\n\n\n\n Co-contributions on the Drive and Save (DAS) Scheme are only for \u201ctaxi principal hirer as a self-employed person\u201d.<\/p>\n\n\n\n This means employees of taxi operators are not eligible for the DAS co-contributions. <\/p>\n\n\n\n On the other hand, taxi principal hirers who are also employees may still be eligible. However, MediSave contributions which are part of either their employee CPF contributions or employer CPF contributions are not counted. MediSave contributions as a self-employed person (beyond MediSave contributions from their job) will be counted towards the co-contribution eligibility.<\/p>\n\n\n\n Read Also: <\/em><\/strong>Complete Guide To Employer\u2019s CPF Contributions In Singapore<\/em><\/strong><\/a><\/em><\/strong><\/p>\n\n\n\n Even taxi drivers who do not have to make MediSave contributions can still receive Drive and Save co-contributions if they make a Voluntary Contribution of at least $20 to their MediSave Account or a lump sum MediSave contribution of $240 within the year.<\/p>\n\n\n\n While Private Hire Car drivers, making up the second largest group of self-employed persons in Singapore with 33,600 drivers, are not eligible for the scheme, they will be eligible for CPF both Employer and Employee CPF contributions from 2H 2024.<\/p>\n\n\n\n Read Also: Complete Guide To CPF Contribution For Platform Workers<\/a><\/em><\/strong><\/p>\n\n\n\n Taxi drivers, like any other self-employed person, can make their MediSave contributions via:<\/p>\n\n\n\n #1 GIRO \u2013 (online) log in with SingPass to through the CPF website, Submit the \u201cApply \/ Change GIRO for Mandatory MediSave Contributions and Voluntary Contributions by Self Employed Persons<\/a>\u201d or (mail) complete the \u201cApply for GIRO for Mandatory MediSave Contributions and Voluntary Contributions<\/a>\u201d form and mail it to the address printed on the overleaf of the application form.<\/p>\n\n\n\n #2 eNETS \u2013 iBanking through Citibank, DBS\/POSB, OCBC, Standard Chartered, UOB.<\/p>\n\n\n\n #3 NETS\/CashCard \u2013 NETS payment at AXS Machines and NETS or CashCard payment at SingPost branches. <\/p>\n\n\n\nWhat Is The Drive and Save (DAS) Scheme?<\/strong><\/h3>\n\n\n\n
Why The Need For MediSave Contribution First, Before Receiving Co-Contributions?<\/strong><\/h3>\n\n\n\n
The Drive and Save (DAS) Scheme Only For Self-Employed Taxi Drivers<\/strong><\/h3>\n\n\n\n
How To Make MediSave Account Contributions (To Receive DAS Co-Contributions)?<\/strong><\/h3>\n\n\n\n