Wage Credit Scheme Payouts for 2019
Employers are reminded to make CPF contributions for employees by 14 January 2019 to receive Wage Credit Scheme payouts
Employers of eligible Singaporean employees are reminded to make the full CPF contributions for these employees by 14 January 2019 in order to receive the sixth tranche of Wage Credit Scheme (WCS) payouts in March 2019.
To qualify for the sixth tranche of the WCS payouts, employers must fulfil the following conditions:
- Have given Singaporean employees a gross monthly wage increase of at least $50 in 2018 and/or have sustained the gross monthly wage increase (at least $50) previously given to employees in 2017; and
- Have paid the employees’ mandatory CPF contributions on 2018 wages to the CPF Board by 14 January 2019.
Employers do not need to apply to receive the WCS payouts. Eligible employers will receive letters from the Inland Revenue Authority of Singapore (IRAS) by March 2019 informing them of the amount of WCS payouts to be received. The payouts will be credited directly into their company’s GIRO bank account used for Income Tax and GST, or their bank account that is registered with PayNow Corporate. Employers who are not on these direct crediting modes are encouraged to sign up for PayNow Corporate by 14 January 2019.