Income loss compensation will be calculated based on your net earnings, with a Fixed Expense Deduction Amount (FEDA) applied to your gross average daily earnings over the 90 days before the accident. In line with CPF regulations, the FEDA rate depends on the type of vehicle used at the time of the accident:
- Cars, vans, trucks, lorries: 60% FEDA
- Motorcycles: 35% FEDA
- Bicycles, Motorbike, Walker: 20% FEDA
For example, if you are a driver partner or use a car for deliveries and your gross earnings over the past 90 days were $9,000, your daily compensation for a platform service-related accident would be:
[$9,000 × (1 - 60%)] ÷ 90 days = $40 per day of MC/hospitalization