The
Wage Credit Scheme (WCS), introduced in 2013, aims to support businesses
embarking on transformation efforts and encourage sharing of productivity gains
with workers. Under the Scheme, the Government will co-fund qualifying wage
increases given to Singapore Citizen employees. For 2020 and 2021, the
co-funding ratio is 15% and the qualifying gross wage ceiling is $5,000. Only
Employers are eligible for the co-funding.