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Learn about the Government's wage offset schemes to support employers that hire senior workers and persons with disabilities. Find out who qualifies, how to receive the payouts and the latest updates for 2024.
The SEC will help employers adjust to the reemployment legislation. Employers can also tap this group of older workers for their skills and experiences to augment their manpower needs.
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The Special Employment Credit (SEC) is a government scheme to encourage employers to hire older workers. It gives employers up to 80% of CPF contributions for employees aged 60 and above, paid twice a year.
Special Employment Credit (SEC) is a payout granted to employers who employ older persons between the age of fifty-five to sixty years old. SEC was first created as a budget initiative in 2011, and in such a period, it only targeted the increment of the employability rate of aged individuals.
Apr 17, 2024 · For an employee aged 68 and paid $3,500 a month, SEC payouts amount to $120 a month ($960 – 24% of $3,500), or up to $2,880 over 2 years in 2021 and 2022. SEC payouts for this employee will be another $3,960 for 2023 to 2025. This is from $120 a month in 2023, and $105 a month for 2024 to 2025.
Learn about the wage offsets for hiring older employees and PWDs in Singapore. Find out how much, how often and how to apply for the Special Employment Credit (SEC) from the CPF Board.
FACTSHEET ON ENABLING EMPLOYMENT CREDIT The Enabling Employment Credit (EEC) is a new wage offset scheme to support the employment of persons with disabilities (PwDs). The EEC will replace the wage offsets for employers of PwDs under the Special Employment Credit (SEC) and Additional SEC, after the
