Singapore doles out S$900 million in wage support

The payouts are expected to benefit over 43,900 employers in Singapore to support the wages of more than 570,000 local employees.
By: | September 22, 2021
Topics: Compensation and Benefits | Health and Wellness | News | Singapore

Singapore will be disbursing over S$900 million (US$ 666.32 million) in wage support to employers from September 30 onwards. 

The payouts are expected to benefit over 43,900 employers in Singapore to support the wages of more than 570,000 local employees, according to the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (IRAS). 

“With this payout, more than S$27.6 billion of JSS support would have been disbursed since the introduction of the scheme at the Unity Budget in February 2020,” the authorities said, and will cover wages from April to July. 

Employers who made mandatory Central Provident Fund (CPF) contributions for their local employees for April to July 2021 within the set deadlines will qualify to receive the payout. 

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“The four-month payout coverage is higher than the usual three-month coverage to provide cashflow support to firms affected by the protracted crisis,” the statement read.

Businesses that are eligible will be notified by post of their payout amount later in September, and can also log in to the myTax Portal to view the e-copy of the letter.