Gig workers can tap existing investment and financial solutions

THERE are about 257,000 own-account workers in Singapore, forming about 9 per cent of the resident labour force, as at June 2022. Such workers – including professionals, platform drivers, hawkers and real estate agents – operate independently and provide various services to businesses and individuals.

Also known as gig workers, their number has remained fairly consistent over the years. They also consistently face unique challenges, including access to suitable and appropriate investment and financial products. These challenges mean that they require tailored solutions to achieve their financial goals.

Healthcare concerns and retirement adequacy

In a recent research report, CFA Society Singapore – a not-for-profit organisation for investment professionals – revealed gig workers’ concerns about the availability and suitability of financial products and services here.