Over 140,000 employers to receive $4 billion in next Jobs Support Scheme payout from 28 May

Over 140,000 employers will benefit from wage support totalling $4 billion that will be disbursed from 28 May, as part of the enhanced Jobs Support Scheme (JSS). Employers need not apply for the scheme, as the cash grant will be automatically computed based on CPF contribution data as at 14 February.

Employers encouraged to sign up for PayNow Corporate by 22 May to receive faster payouts

2          Employers who registered for PayNow Corporate by 22 May, can expect to receive the payment by 28 May. Other employers will receive their cheques between 3 and 5 June.

3          Employers are encouraged to sign up for PayNow Corporate to receive faster JSS payouts digitally. Employers can sign up for PayNow Corporate by linking their UEN / NRIC / FIN to their bank accounts via internet banking for instantaneous approval by the banks. For assistance, please approach your bank.

Background

4          For the payment in May, employers will receive 75% support for the first $4,600 of wages paid to local employees. This will be computed based on November 2019 wages, and future JSS payouts will be adjusted to account for the actual wages paid in May 2020.

5          As announced on 21 April 2020, the JSS has also been extended to cover wages of local employees who are shareholders and directors (shareholder-directors) of companies. The May payment will include back-payments for companies with qualifying shareholder-directors whose wages were excluded from the first JSS payout in April 2020.

6          Employers are strongly encouraged to use the JSS wage subsidies to retain their local employees. 

7          For more information, please visit go.gov.sg/jss.

Annex: Jobs Support Scheme (205 KB)

Issued by:

Ministry of Finance
Inland Revenue Authority of Singapore
17 May 2020