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미래전략 연구소2020-04-27T17:52:49+09:00

TNC Business Strategy Research

Singapore 2020 Singapore Support for Jobs, Wage Increases, and Skills (Issue 3)

2020-05-22 19:28
1. Wage Credit Scheme (WCS)

- To support enterprises embarking on transformation efforts and encourages employers to share productivity gains with workers, by co-funding wage increases.

- Employers do not need to apply for WCS.

a) Employers will receive payouts automatically in the month of March after the qualifying year (Y+1), for qualifying wage increases given to their employees in the qualifying year (Y). This is the existing process.

b) Employers who benefit from additional wage credit arising from the Budget 2020 enhancements will receive a separate supplementary payout in the second half of 2020. Letters will be sent to all qualifying employers to inform them of the supplementary payout.