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Get Matched on GrabCar Driver 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) and Private Hire Driver Vocational Licence (PDVL).

As part of Grab’s partners’ welfare efforts, GrabCar is happy to announce a new Medisave Programme for partners. Grab will match our qualifying partner’s Medisave contributions up to $200 (see below tables for details) to help make sure you are well covered in the future!

The Programme

Grab’s Medisave Match Contribution takes into consideration the following elements:

  • Your Driver Group and Grab’s monthly Medisave Match Contribution Cap
    • The cap amounts cannot be exceeded on a monthly basis, even if your average contribution over the course of a year is equal to Grab’s cap.
  • Your Qualifying Medisave Amount based on your earned incentives for the month (4-5 weeks period based on Monday to Sunday)
    • This amount will be 5% of a partner’s monthly earned incentives. Please refer to the table in the Example section for a detailed illustration.
    • Please refer to your Weekly Partner Statement to track the incentives earned within the month, which is found under the “Incentive” line in the summary section.  
  • Your actual monthly contribution to Medisave
    • Depending on your contribution to your Medisave account, Grab will match the amount (up to the cap as described in point 1 above).

All partners interested in this programme can register at our GrabCar branch in Midview City. This is a pilot programme for a year, where Grab will liaise with CPF Board quarterly starting July to determine the amount contributed, and will transfer the appropriate funds to your Medisave account. Please note that all subsequent payouts will be done a month after the Quarter ends, with the first quarter payment to be made in July 2017 for the period starting from April – June 2017.

Eligibility Criteria

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

  • Completed registration process within the month (4-5 weeks period based on Monday to Sunday)
  • Qualified to receive incentives (AR/CR/DR)
  • Completed a minimum of 80 rides per week
  • Contributed to your own Medisave account
  • Self-employed i.e. not employed by a chauffeured services company

Example

Please note that the following example assumes a partner has met all eligibility criteria every month.

*Click the table below to enlarge*

How to read the table:

  • In April, you earned $4000 in incentives, making you eligible to receive $200 (5% of incentives) from Grab.
    • Platinum partners: Because you contributed $200 to your Medisave, Grab will match your contribution of $200.
    • Regular partners: Because of the $100 monthly Medisave Match Cap, Grab will only contribute $100 to your Medisave account.
  • In May, you earned $4400 in incentives, making you eligible to receive $220 (5% of incentives) from Grab.
    • Platinum partners: Because of the $200 monthly Medisave Match Cap, Grab will only contribute $200 to your Medisave account.
    • Regular partners: Because of the $100 monthly Medisave Match Cap, Grab will only contribute $100 to your Medisave account.
  • In June, you earned $4000 in incentives, making you eligible to receive $200 (5% of incentives) from Grab.
    • Platinum partners: Because you contributed $180 to your Medisave, Grab will match your contribution of $180 even though you were qualified for a higher amount.
    • Regular partners: Because of the $100 monthly Medisave Match Cap, Grab will only contribute $100 to your Medisave account.
  • In July, you drove less than usual and earned $1900 in incentives, making you eligible to receive $95 (5% of incentives) from Grab.
    • Platinum & Regular partners: Although you contributed $120 to Medisave, Grab will only match your Qualifying Medisave Amount of $95.
  • In August, you earned $3600 in incentives, making you eligible to receive $180 (5% of incentives) from Grab.
    • Platinum partners: Because your Qualifying Medisave amount is $180 (5% of incentives), Grab will match it even though you contributed more that month.
    • Regular partners: Because of the $100 monthly Medisave Match Cap, Grab will only contribute $100 to your Medisave account.
  • In September, you earned $3700 in incentives, making you eligible to receive $186 (5% of incentives) from Grab.
    • Platinum & Regular partners: Because you did not contribute to Medisave, Grab will not contribute to your Medisave account.
  • In October, you earned $4400 in incentives, making you eligible to receive $220 (5% of incentives) from Grab.
    • Platinum partners: Because of the $200 monthly Medisave Match Cap, Grab will only contribute $200 to your Medisave account.
    • Regular partners: Because of the $100 monthly Medisave Match Cap, Grab will only contribute $100 to your Medisave account.
    • As you did not contribute for the month of September, please note that despite a larger contribution in October, Grab will only contribute based on the monthly cap.

Frequently Asked Questions

Q: Are all GrabCar partners automatically on this scheme? If not, how do I sign-up?
A: All interested partners need to register at our branch at Midview City:

  • For all new partners: It will be part of your registration process when you visit us at our Midview City branch.
  • For all existing partners: Please head to Block 28, Midview City, #01-140

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 the CPF website or click here for a summary.

Q: I have forgotten to contribute to my Medisave in September. Am I able to contribute more this month to cover for the month that I have missed?
A: Please feel free to contribute according to your needs. However, please note that Grab will not give you a lump sum of 2 months contribution due to our monthly cap.

Q: It is March, I have contributed $100 to my Medisave Account in February but realised that I did not received any incentives in February. Can I ask for a refund of the Medisave contribution of $100?
A:  Medisave contributions once credited cannot be refunded or adjusted. The contribution can be used to offset your current and future Medisave contributions payable as a self-employed person.

Q: I thought CPF contributions are made by employee and the Company? By participating in this co-contribution scheme, does that mean I am now an employee of Grab?
A: No, as your status as an independent contractor remains unchanged. Your participation in this scheme, and Grab’s matching contribution are both made on a voluntary basis.

Q: How do I check the current amount of contribution in my Medisave account? Can Grab help me process Medisave transactions?
A: As access to your Medisave account is confidential and managed by the Central Provident Fund (CPF) Board, please contact CPF via:

For more information about Medisave or CPF-related matters, please visit https://www.cpf.gov.sg/ or click here.

For the list of all GrabCar Partner benefits, click here.