SINGAPORE: More than 140,000 employers will receive S$4 billion in the next Jobs Support Scheme (JSS) payout, Deputy Prime Minister Heng Swee Keat said on Sunday (May 17).
“I urge companies to use the JSS wage subsidies to retain their workers during this difficult period,” Mr Heng said in a Facebook post.
Employers will receive 75 per cent wage support for their local employees, capped at the first S$4,600 of wages paid. Some shareholder-directors will also qualify as previously announced, Mr Heng said in a Facebook post.
Mr Heng, who is also Minister for Finance, said that some companies are doing well and have returned the funds.
“I hope the rest which are also doing well will do likewise. Many companies and individuals have also been donating to worthy causes that they support. You can find out more on these causes at Giving.sg."
The wage support will be disbursed from May 28, said the Ministry of Finance (MOF) in a press release.
Employers need not apply for the scheme, as the cash grant will be automatically computed based on Central Provident Fund (CPF) contribution data as at Feb 14.
MOF encouraged employers to sign up for PayNow Corporate by May 22 to receive faster payouts. Those who do so can expect to receive the payment by May 28. Other employers will receive their cheques between Jun 3 and Jun 5.
First announced by Mr Heng in February's Budget, the JSS is a wage subsidy programme to help companies retain and pay their workers as businesses take a hit from the impact of COVID-19.