Grab Malaysia Contributes To More Than 180,000 Active Partners’ Social Security
This initiative aims to provide social protection for Grab partners.
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Grab Malaysia has contributed to more than 180,000 driver- and delivery-partners’ Skim Keselamatan Sosial Pekerjaan Sendiri (SKSPS), as part of its latest partnership with PERKESO.
This initiative aims to provide social protection for Grab partners, in addition to the financial protection and upskilling initiatives provided under the GrabBenefits programme.
Since April 2024, Grab Malaysia has contributed more than RM4 million on behalf of eligible driver- and delivery-partners through the Budget 2024 SKSPS Matching Contribution initiative.
Under this matching scheme, the individual or company that chooses to voluntarily sponsor the individual, contributes 10 percent while the government sponsors 90 percent.
GrabBenefits – Addressing the everyday needs of Grab Partners
GrabBenefits is a first-of-its-kind benefits programme for Malaysia’s gig economy. With three main pillars – Protection, Savings and Academy – the comprehensive programme aims to protect partners and their loved ones while on and off the job, enable them to manage and save more on their operational and daily costs, while offering digital programmes for their continued upskilling.
Some of the initiatives under GrabBenefits have focused on the Protection and Savings pillars, including:
Insurance Protection
Since day one, Grab has been providing free Group Personal Accident insurance for on-the-job incidents and Insurans Bulanan 24/7 (added for delivery-partners). In 2023, Grab invested RM5.5 million to provide free insurance for all driver- and delivery-partners.
Additionally, Grab has fractionalised the cost for additional coverage, enabling Grab partners to opt-in for themselves and their families through the Personal Accident Plus Insurance (PA+). Last year, One in 10 Grab partners opted in for PA+ for additional protection for themselves, or for their spouse and family.
Advance Vouchers
Grab partners have access to a variety of advance vouchers to help manage and defray their expenses and operational costs such as for petrol, groceries and car repairs. These vouchers can be paid back in affordable daily installments with zero fees, and no hidden charges. To date, Grab partners have saved more than RM200,000 in cashback.
Grab Cash Financing-i
Grab Cash Financing-i is a Shariah-compliant personal financing product introduced in 2022 whereby eligible partners can apply and pay for it in affordable daily automated payments. In 2023, 54.3% of eligible Grab partners have applied for the financing more than once. Based on an internal survey, they use it for either personal use (e.g. home maintenance, car down payment) or debt consolidation and repayment.
The GrabBenefits programme has had considerable positive impact on the lives of Grab’s partners and is an invaluable financial lifeline during and post the challenging times of the global pandemic. The financial assistance granted by Grab has helped partners achieve significant personal milestones, fund their own small businesses, consolidate and repay debts, contribute to family education and cover vital medical expenses.
For example, Patrick Chan, who has been a Grab driver-partner since 2018, was eligible for financing support. He used the financing aid to invest in equipment for his photography business and kept the balance to help him manage his day-to-day expenses.
Kak Leen, a Grab delivery-partner since 2018, applied for financing support to pay the deposit for her child’s motorcycle, consolidated her debts and also built her savings with ASB.
Grab’s commitment to its partners is a testament to the company’s dedication to empower everyone with simple, transparent, and flexible financial products while changing the landscape in Malaysia. The company aims to continue developing innovative products to cater to the financial needs of Malaysians in the future.
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