Deep Dive Podcast: Protecting platform workers – the benefits and challenges

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In: South-East Asia

Here’s an extract from the talk: &nbsp,

Crispina Robert, Host:
Let’s discuss about the CPF part. I was struck by the age at which they say it’s mandatory and ( when ) it’s not. But, this will kick in on Jan 1 second time. It’s necessary for those 30 and above. But why 30? Those between the ages of 40 and 50 may also have these agreements. &nbsp,

Yeo Wan Ling, NTUC Assistant Secretary-General:

Choice is essential. As you mentioned, the selection of staff is really quite large. Many of the younger workers we speak to are very appreciative of the CPF because it gives them a bigger ( overall ) pay package. Because right now, if they are employee-like, you should be getting CPF right. &nbsp,

With this, you are looking at an additional 17 % when this rolls out to its entirety. However, we also have a significant number of people who are incredibly stable. For example, our car drivers. They are likely to have completely financed homes. &nbsp,

We simply want to give people the option to choose to settle in. Many car drivers are reportedly interested in participating in this program because it does, undoubtedly, increase, not the pension adequacy part, but undoubtedly the healthcare portion. &nbsp,

Crispina:
Because they do build their nest egg, but they already do n’t make much, please tell me a little more about this. So now with the CPF, they’re going to get home less. That’s undoubtedly the thing that makes people stare in their faces.

Walter Theseira, carry researcher:
I want to look at it from a few different perspectives. First off, anytime a discussion of CPF contributions is made in the context of self-employed workers, I would say generally, ( they ) get a bit nervous because they realise that making more CPF contributions means that their take-home ( pay ) goes down. &nbsp,

For many of them, because the work is not super well-paying, they are finding that their budget is already quite stretched with their take-home ( pay ). Therefore, it’s natural for them to know what’s going to occur when 20 % starts going into my Pension bill. That’s one topic, of training. &nbsp,

The various issue, and this relates to really the choices that younger employees have, right?