In its press release on 4 March 2024 on foreign workforce policies, the Ministry of Manpower (MOM) announced that the minimum qualifying salaries for Employment Pass (EP) applications will be increased from 1 January 2025 for new applications and from 1 January 2026 for renewals.
The updates to the minimum qualifying salaries are as follows:
The minimum qualifying salaries for EPs are reviewed annually, benchmarked against the wages of the top one-third of local professionals, managers, executives and technicians (PMETs) to ensure a level playing field between foreign and local PMETs.
The increase in the minimum qualifying salary for EPs is poised to impact employers and local and foreign workers in Singapore. While it may increase operational costs for employers reliant on foreign talent, it could also incentivise investments in training and developing local talent, there by fostering the upskilling of Singaporean workers.
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Disclaimer: This article is for general information only and does not constitute legal advice.
