Thursday, September 22, 2011

More than 51,000 employers to get S$17 million in SEC


20 September 2011
TODAY (Singapore)
(c) 2011. MediaCorp Press Ltd.

SINGAPORE — The first payment under the Special Employment Credit (SEC) announced in this year’s
Budget will be given out by the end of this month.

The Ministry of Manpower says that more than 51,000 employers qualify.

They will receive a total of S$17 million for employing 167,000 older, low-wage Singaporeans in the first half of this year.

The SEC was announced in February as a one-off Budget measure to encourage employers who employ Singaporeans aged 55 and above and earn up to S$1,700 a month.

Eligible employers will receive notifications from the CPF Board this week.

The SEC will be paid twice a year in March and September between January this year and December 2013.

It is expected to cost the Government S$100 million over the three years.

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