Updated 05:54 PM Aug 16, 2011
SINGAPORE - Starting next January, new applicants for two of the three categories of employment passes will have to earn higher qualifying salaries.
Prime Minister Lee Hsien Loong had announced this during his National Day Rally speech on Sunday, and the Ministry of Manpower (MOM) provided more details this morning.
It said Q1 pass holders, the lowest rung of employment passes, will have to earn at least S$3,000, up from the current S$2,800.
And they must come from good quality institutions.
Older applicants will also have to earn higher pay, commensurate with the work experience and quality they are expected to bring.
The qualifying salary for P2 employment pass will jump from S$4,000 to S$4,500, while P1 passes will see no change to the salary threshold of S$8,000.
Echoing Mr Lee's point that Singaporeans will remain at the core of our workforce, Deputy Prime Minister Tharman Shanmugaratnam, who is also Manpower Minister and Finance Minister, said the move is aimed at capping the foreigner component at one-third of our workforce in the long-term.
The other objective is to ensure only high-quality foreigners, who add value to our economy, will be brought in.
This would also ensure local workers would not be unduly disadvantaged in their job opportunities and prospects.
Mr Tharman said businesses will likely face a 1 to 2 per cent increase in their wage costs for employment pass holders.
But he assured them that the Republic's economy is still on course to achieve the stated 3 to 5 per cent GDP growth over the medium term.
The tweaked requirements will apply to existing employment pass holders over the next one to two years.
Those whose passes expire before January, next year, will enjoy a two-year renewal based on the criteria before the July revisions.
Pass holders who need to renew between January and June, next year, will receive a one-year renewal, also on current criteria.
Subsequently, the new criteria will kick in for foreign workers already based here.
The MOM noted that there has been strong growth in the demand for employment passes since the economic recovery.
Year-on-year, the number of employment passes as at June spiked by 28 per cent.
The current salary thresholds for employment passes was revised only in July.
Via: http://www.todayonline.com/Singapore/EDC110816-0000842/New-requirements-for-employment-pass-holders
References:
http://www.business.gov.sg/EN/News/Stricter+Requirements+For+Employment+Pass+Holders+By+January+2012.htm
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1147307/1/.html
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