Over 140,000 employers to receive $4 billion in next Jobs Support Scheme payout from 28 May
17 May 2020
Over 140,000 employers will benefit from wage support
totalling $4 billion that will be disbursed from 28 May, as part of the
enhanced Jobs Support Scheme (JSS). Employers need not apply for the scheme, as
the cash grant will be automatically computed based on CPF contribution data as
at 14 February.
Employers encouraged to sign
up for PayNow Corporate by 22 May to receive faster payouts
2 Employers who registered for PayNow
Corporate by 22 May, can expect to receive the payment by 28 May. Other
employers will receive their cheques between 3 and 5 June.
Payment Mode | Receipt of May JSS Payout | Bank Transaction Code |
---|
PayNow Corporate | 28 May 2020 | GOVT |
GIRO | 28 May 2020 | Jobs Support Scheme |
Cheques | 3 to 5 June 2020 | N.A. |
3 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. For
assistance, please approach your bank.
Background
4 For the payment in May, employers will
receive 75% support for the first $4,600 of wages paid to local employees. This
will be computed based on November 2019 wages, and future JSS payouts will be
adjusted to account for the actual wages paid in May 2020.
5 As announced on 21 April 2020, the JSS
has also 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 2020.
6 Employers are strongly
encouraged to use the JSS wage subsidies to retain their local employees.
7 For more information, please visit go.gov.sg/jss.
Annex - Factsheet on Jobs Support Scheme (PDF, 208KB)
- 5 Things to Note for Employers
- 5 Things to Know for Local Employees
Ministry of Finance
Inland Revenue Authority of Singapore