Few will get Wage Credit payouts directly

May 26, 20149:57 am270 views
Few will get Wage Credit payouts directly
Few will get Wage Credit payouts directly

Companies have received their first payouts from a scheme that subsidises wage increases, but most large firms are unlikely to hand the money directly to employees.

More than 10 prominent Singapore companies were contacted about their plans for the first Wage Credit Scheme payout, which went out in March.

While almost all declined comment, The Straits Times understands that many large companies are planning to channel the funds towards training and skills upgrading for staff.

Under the Wage Credit Scheme introduced in the 2013 Budget, the Government subsidises 40 per cent of pay rises given to Singaporean workers earning up to $4,000 a month. It expires next year.

 

source: straitstimes.com

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