In its 2022 Budget Statement, the Singapore Ministry of Finance announced that the framework for issuing work passes would be reviewed and updated to strengthen Singapore's workforce, and to ensure that incoming work pass holders meet the quality of Singaporeans in professional, managerial, executive and technical jobs (PMET) . As a result, two important changes are scheduled to take effect. Read to find out more.
Two important changes scheduled to take effect:
- The minimum qualifying salary for Employment Pass (EP) and S Pass applicants will be increased with effect from 1 September 2022 (for new applications) and 1 September 2023 (for renewals).
- All EP applicants will be required to pass a new points-based Complementarity Assessment Framework (or 'COMPASS') with effect from 1 September 2023 (for new applications) and 1 September 2024 (for renewals).
The changes represent a significant overhaul to Singapore's immigration framework. While there is a relatively generous transitional period, it is important for employers to start reviewing their hiring and global mobility processes now in order to plan ahead.
In August 2022, we sent a survey to employers to understand their level of knowledge of the upcoming changes, and how they felt the changes would likely impact their hiring practices going forward.
The results show that while there may not be a significant difference on employers’ hiring practices going forwards, there could be implications for existing foreign employee populations.
The results of the survey can be accessed here.