At the Committee of Supply debate in March 2024, the Ministry of Manpower (MOM) announced the following foreign workforce changes.
Employment Pass (EP) Qualifying Salary
- Minimum raised to S$5,600 (from S$5,000), rising with age to S$10,700 for candidates in their mid-40s.
- Financial services: minimum raised to S$6,200 (from S$5,500), rising with age to S$11,800.
- Applies to new applications from 1 January 2025 and renewals from 1 January 2026.
Local Qualifying Salary (LQS)
- Raised to S$1,600 per month (from S$1,400) from 1 July 2024.
- Locals earning S$800 to below S$1,600 count as half a local employee for quota purposes.
Marine Shipyard Sector (from 1 January 2026)
- Dependency Ratio Ceiling (quota) reduced from 77.8% to 75%.
- Basic-skilled (R2) Work Permit levy raised to S$500 (from S$400); higher-skilled (R1) levy raised to S$350 (from S$300).
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