CPFB | Making voluntary contributions as a platform operator

Making Voluntary Contributions

As a platform operator, you can make additional contributions voluntarily to build up your platform workers’ CPF savings. All Voluntary Contributions (VC) made are irreversible and cannot be backdated.

Understand the types of VC you can make and how.

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Build up their retirement savings

Top up your platform worker's Special or Retirement Account

Build up their healthcare savings

Make Voluntary Contributions to your platform worker's MediSave Account

Build up their CPF savings

Make Voluntary Contributions to your platform worker's three CPF accounts

Top up your platform worker's Special or Retirement Account

Build up their retirement savings

You can make cash top-ups to your platform workers' Special or Retirement Account. Learn more about helping to grow their retirement savings so that they can receive higher monthly payouts during retirement.

Doing so allows you to receive dollar-for-dollar tax deductions for the cash top-ups made. While the cash top-up is included in the platform worker's taxable income, your platform worker will receive tax relief of up to $8,000 on your top-up, subject to certain conditions.

If your platform worker is eligible to receive matching grant under the Matched Retirement Savings Scheme, they can also enjoy a matching grant, up to $2,000 per year.

To top up your platform workers' retirement savings, you can use your existing platform operators' CPF Submission Number (CSN) ("PWA" or "PWM"). You do not need to apply for a new CSN.

Make Voluntary Contributions to your platform worker's MediSave Account

Build up their healthcare savings

Cash top-ups to your platform workers' MediSave Account

(Eligible platform workers can qualify for Matched MediSave Scheme)

You can make cash top-ups to your platform workers’ MediSave Account up to the platform worker’s applicable Basic Healthcare Sum. Learn more about helping to grow their healthcare savings so that they can meet their healthcare needs during retirement.

If eligible, your platform worker could also receive a matching grant under the Matched MediSave Scheme, up to $1,000 a year.

More information on the tax deductions applicable to you will be made available once ready.

To top up your platform workers’ healthcare savings, you can use your existing platform operators’ CSN (“PWA” or “PWM”). You do not need to apply for a new CSN.

Voluntary contributions to MediSave Account

You can make voluntary MediSave contributions up to the CPF Annual Limit ($37,740 per platform worker) less any mandatory contributions and voluntary contributions to the three CPF accounts received by the platform worker for the calendar year.

These voluntary contributions will not qualify your platform workers for the Matched MediSave Scheme.

You will enjoy tax deductions on the voluntary MediSave contributions of up to $2,730 per platform worker. These contributions are also tax exempt up to $2,730 for the platform worker.

To make VC to your platform worker's MediSave Account, please write to us to apply for a new CSN with payment code "MSE", e.g. 123456789-MSE-01.

After you receive the MSE CSN, you can submit and make voluntary MediSave contributions the same way you make mandatory CPF contributions for your platform workers via CPF EZPay.

Please indicate the month in which you make your VC submission as the month of contribution. For example, if you are submitting your voluntary MediSave contributions in January 2025, please indicate the month of contribution as January 2025.

Make Voluntary Contributions to your platform worker's three CPF accounts

Build up their CPF savings

You can make VC to your platform workers' three CPF accounts up to the CPF Annual Limit ($37,740 per platform worker) less any mandatory contributions and voluntary MediSave contributions received by the platform worker for the calendar year.

This VC is non-tax deductible for you and your platform worker.

This VC will be allocated to your platform workers' three CPF accounts, according to this allocation table, to build their CPF savings for retirement, housing and healthcare needs.

To make VC to your platform worker’s three CPF accounts, please apply for a new CSN with payment code “VCT”, e.g., 123456789-VCT-01.

After you receive the CSN, you can submit and make payment the same way you make mandatory CPF contributions for your platform workers via CPF EZPay.

Please indicate the month in which you make your VC submission as the month of contribution. For example, if you are submitting your VC in January 2025, please indicate the month of contribution as January 2025.

FAQs

Common questions

What are the types of Voluntary Contributions I can make for my platform workers?

How can I make Voluntary Contributions for my platform workers?

As a platform operator, what are the conditions for me to enjoy tax deductions when I make Voluntary Contributions for my platform workers?

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