The PWCS for qualifying year 2023 will be enhanced by increasing the Government's co-funding share from 50% to 75% per cent for employees with gross monthly wages up to S$2,500 and from 30% to 45% for employees with gross monthly wages more than S$2,500 and up to S$3,000. This is shown in the table below.
The enhanced 2023 co-funding support will also apply to wage increases given in qualifying year 2022 and sustained in 2023. All other scheme parameters remain unchanged.
Table: Government Co-Funding Levels for Eligible Wage Increases from 2022 to 2026
| Qualifying Year | Payout Period | First Tier Gross Monthly Wage Ceiling ≤S$2,500 | Second Tier Gross Monthly Wage Ceiling >S$2,500 and ≤ S$3,000 | | --- | --- | --- | --- | | 2022 | Q1 2023 | 75% | 45% | | 2023 | Q1 2024 | 75% (+25%-pt) | 45% (+15%-pt) | | 2024 | Q1 2025 | 30% | 15% | | 2025 | Q1 2026 | 30% | - | | 2026 | Q1 2027 | 15% | - |
Notes:
The UEC is a new hiring incentive that encourages firms to employ ex-offenders, so as to support their reintegration into society. Ministry of Manpower (“MOM”) will share more details at their Committee of Supply (“COS”).
The SEC will be extended from 2023 to 2035, by providing wage offsets to support employers in hiring senior workers. MOM will share more details at their COS.
The EEC will be enhanced to cover a larger proportion of wages and a longer duration for persons with disabilities (“PwDs”) who have not been working for at least six months, so as to encourage more employers to hire persons with disabilities. MOM will share more details at their COS.
The CTO will be provided to employers to alleviate the increase of business cost arising from the 2024 increase in senior workers’ CPF contribution rates. The offset provided will be equivalent to half of the 2024 increase in employer CPF contribution rates.
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