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GrabTaxi Medisave Programme!

Contributing to Medisave is an important part of everyone’s financial planning, especially to ensure sufficient funds for an unexpected medical situation. On top of that, it is actually a requirement for the application and renewal of Taxi Driver Vocational Licence (TDVL).

As part of Grab’s partners welfare efforts, GrabTaxi is happy to announce a new Medisave Programme for Taxi Partners. Grab will make up to 15% additional contributions to our Taxi Driver’s CPF Medisave accounts, for the incentives earned for the month. (see below tables for details)

The Programme

GrabTaxi’s Medisave Contribution takes into consideration the following elements:

  1. Your Driver Group
    • Platinum+, Platinum, or Regular

  2. Your Qualifying Medisave Contribution is based on your earned incentives and Driver Group for the month
    • The amount to calculate the contribution will be on the total incentives earned for the month*
    • The contribution rate will be based on your Driver Group for the month; for example, in April you are a Platinum Driver, therefore Grab will contribute 10% of your earned incentives in April to your CPF Medisave account.
  3. Your monthly contribution to Medisave
    • This is on top of the incentives you have earned which means that this CPF contribution is not deducted from your incentives payout.
  4. Grab’s monthly Medisave Contribution cap
    • Medisave contributions will be capped at up to 15% of your incentives earned for the month.

Eligibility Criteria

To receive Grab’s Medisave Contribution, you must have met the following criteria:

  • Activated GT drivers for the entire month (4-5 weeks period based on Monday to Sunday)

Example

In April, you earned $1280 in incentives. Depending on your Driver Group for the period, Grab will make contributions to your Medisave account, as per the below:

  • As a Platinum+ Driver: You will receive 15% of $1280 and that is equivalent to $192. Grab will contribute $192 to your medisave account in the last week of May.
  • As a Platinum Driver: You will receive 10% of $1280 and that is equivalent to $128. Grab will contribute $128 to your medisave account in the last week of May.
  • As a Regular Driver: You will receive 8% of $1280 and that is equivalent to $102.40. Grab will contribute $102.40 to your medisave account in the last week of May.

Frequently Asked Questions

Q: Why do I need to contribute to Medisave?
A: Medisave is a national healthcare savings scheme that was established with the intention to help every Singaporean prepare for accidents that could potentially deplete their savings through costly medical bills. As a Grab partner, we want to ensure that you will be well covered for any future costs, hence our Medisave Programme. Read more on Medisave here.

Q: It is currently July and I wish to contribute to my Medisave in June. Am I able to contribute more this month on my own?
A: Yes, please feel free to contribute according to your needs. However, please note that Grab will make contributions based on your earned incentives for the month only.

Q: In July, I am being promoted from Platinum to Platinum+ Driver. My incentives earned in June was $1480. Would I be qualified for the CPF contribution of 15% for June?
A: Grab will make CPF contribution to your Medisave account based on your Driver Group each month. In the month of June, you were still a Platinum Driver. Therefore, Grab will make CPF contribution of 10% based on your earned incentives in June to your Medisave account. However, in the month of July, Grab will make CPF contribution of 15% based on Platinum+ Driver Group.