05 April 2013

Singapore Budget 2013 - Wage Credit Scheme


Today I came across this scheme at our budget website.

It seems that our government will help businesses pay their employees a higher salary increment for 3 years by topping up an extra 40%, but this only applies to employees whose monthly salary are S$4000 or lesser, which also means I am eligible, Yay... I wonder if it is capped at S$200 since the picture shows only that amount. Anyway, I don't think my employer will pay me that much, I'll probably get S$100-S$150 increment for 2013 depending on performance.

So let's say I get S$100 increment from my employer, and our government tops up 40%, I'll get a total of S$140 increment for 2013, sounds like not bad huh.

The thing is, what happens after 3 years? From the 4th year onwards, employers will need to cough up that extra salary increment from their own pockets? I don't think they will like that.

2 comments:

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