The minimum qualifying salaries for new Employment Pass (EP) and S Pass applicants will rise by S$500 from September.
Key Changes
- The minimum qualifying salary for new EP applicants will go up to S$5,000 from the current S$4,500.
- In the financial services sector, where the salaries are higher, this amount will go up to S$5,500 from the current S$5,000.
- Qualifying salaries for older EP applicants will also be raised in tandem.
- The minimum qualifying salary for new S Pass applicants will go up to S$3,000 from the current S$2,500.
- A higher minimum qualifying salary of S$3,500 will be introduced in the financial services sector. After that, the minimum qualifying salary for new S Pass applicants will be raised in September next year and in September 2025.
- Qualifying salaries for older S Pass holders will also be raised in tandem.
Erickson Insights
The Government of Singapore asserted that these changes were meant to ensure that incoming EP and S Pass holders are comparable in quality to the top one-third of the local professional, managerial, executive, and technical (PMET) workforce.
“EP holders should be professionals and senior executives who can contribute to our economy, sharpen the skills of those they work with, and strengthen our workforce,” said Finance Minister Lawrence Wong.
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