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More than 98,000 employers to get S$940 million in Wage Credit Scheme payouts by end-March

Sumary of More than 98,000 employers to get S$940 million in Wage Credit Scheme payouts by end-March:

  • More than 98,000 employers will receive S$940 million in Wage Credit Scheme payouts by Mar 31, said the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (IRAS) on Thursday (Mar 18)…
  • Those eligible will receive letters from IRAS by Mar 31 informing them of their payout amount, which will be credited directly to employers’ registered bank accounts through PayNow Corporate or GIRO…
  • The Wage Credit Scheme, introduced in 2013, co-funds wage increases to support business transformation efforts and encourage sharing of productivity gains with workers….

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