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Next Jobs Support Scheme payout to be disbursed from May 28

Next Jobs Support Scheme payout to be disbursed from May 28

Source: Business Times
Article Date: 18 May 2020
Author: Tay Peck Gek

The next instalment of wage support totalling S$4 billion for over 140,000 employers will be disbursed from May 28, as part of the enhanced Jobs Support Scheme.

The next instalment of wage support totalling S$4 billion for over 140,000 employers will be disbursed from May 28, as part of the enhanced Jobs Support Scheme (JSS), the Ministry of Finance said in a press statement on May 17.

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

"Our wage support for companies in Singapore is very significant - in total, we have committed more than S$20 billion under the JSS over three Budgets - Unity, Resilience and Solidarity. I urge companies to use the JSS wage subsidies to retain their workers during this difficult period," Deputy Prime Minister and Finance Minister Heng Swee Keat said in a Facebook post on May 17.

"Some companies are doing well, and have returned the funds - thank you! I hope the rest which are also doing well will do likewise. Many companies and individuals have also been donating to worthy causes that they support," he noted.

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

Employers need not apply for the scheme, as the cash grant will be automatically computed based on CPF contribution data as at Feb 14.

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

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.

As announced in April, the JSS has 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.

The JSS is meant to help enterprises retain their local employees during this period of economic uncertainty caused by the novel corona-virus pandemic.

Meanwhile, there were 682 new Covid-19 cases, including four Singaporeans and permanent residents, reported on May 17, bringing the total infected in Singapore to 28,038. On a positive note, 998 more cases have been discharged. In all, 9,340 have fully recovered from the disease since the first case was reported on Jan 23. The virus has infected more than 4.6 million and killed more than 310,000 people worldwide.

Source: Business Times © Singapore Press Holdings Ltd. Permission required for reproduction.

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