Singapore employers to get S$2.2 billion in wage subsidies

Under the Jobs Support Scheme, more than 140,000 employers will receive wage subsidies totaling S$2.2 billion (US$1.6 billion) from June 30.
By: | June 23, 2021
Topics: Compensation and Benefits | Health and Wellness | News | Singapore

In a joint statement, the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (IRAS) said the scheme will support the salaries of more than 2 million local employees. 

The statement added, “With this payout, more than S$26.7 billion (US$19.9 billion) of JSS support would have been disbursed since the introduction of the scheme at the Unity Budget in February 2020.” 

Employers who have made mandatory Central Provident Fund (CPF) contributions for their local employees for the months of January to March 2021 by the stipulated deadlines will qualify to receive the payout, said the joint statement. 

Employers in sectors hardest hit by the pandemic such as aviation, aerospace, and tourism will receive 50% support for the first S$4,600 (US$3,421) of gross monthly wages paid in January, February and March 2021. 

Those in food services, retail, arts and entertainment, land transport, built environment, and marine and offshore sectors will get 30% support. 

READ: Singapore maintains WFH as default arrangement, extends job support

Employers in all other sectors – excluding biomedical sciences, precision engineering, electronics, financial services, information and communications technology, media, postal and courier, online retail, and supermarkets and convenience stores – will receive a subsidy of 10%.