In order to keep up with the evolving dynamic workforce, Singapore has brought in new rules to their Employment Pass. The adjustments to employment pass in Singapore has been made to encourage foreign talent while also bringing transparency and fairness in the hiring process.
Some of the major modifications across the employment pass here include increasing the EP qualifying salary, strict rules of job advertisement is. The newer changes also bring about the introduction of Complementarity Assessment Framework (COMPASS). This blog explores some of the major changes in the major changes in Singapore Employment Pass in 2024.
Major Changes in Singapore Employment Pass
Who is eligible
To qualify for EP applications, candidates will need to pass a 2-stage eligibility framework:
- Earn at least the EP qualifying salary, which is benchmarked to the top 1/3 of local PMET salaries by age.
- Unless exempted, pass the points-based Complementarity Assessment Framework (COMPASS).
Note: Employers and employment agents can use the enhanced Self-Assessment Tool (SAT) to check a candidate’s eligibility before they apply.
Increase in Salary Threshold
- The minimum qualifying salary for Singapore Employment Pass was increased effective from September 1, 2023.
- The latest salary requirements for the EP have been updated. Earlier it was $5,000 per month with a slightly higher minimum of SGD 5500 for roles in the financial service sector. For professionals in their 40s, the minimum salary increased up to 10,500 and 11, 500 for financial services for those whose age is beyond 45 years.
- Starting from January 1, 2025, the minimum wage will rise and go up to SGD 5600 and SGD 6200 for finance. So, this update will be applicable to new applicants and renewals from January 1, 2026.
- The salary requirement will be different depending on their age in the finance sector.
Strict Job Advertisement Policy
- Employers who want to hire international talent as per EP policy must have the position enlisted in MyCareersFuture for around 14 consecutive days.
- This requirement will be applicable for positions that have more than ten employees.It helps to bring fairness in the job sector for locals, giving them enough opportunity to apply for the same.
Introduction of COMPASS
- Complementarity Assessment Framework (COMPASS) became valid on September 1, 2023.
- It will evaluate different factors for the individuals such as work experience, qualifications and salary to determine that the candidate is eligible for EP.
All the candidates must earn 40 points to pass the COMPASS.
- Individual characteristics: Includes education and compensation up to 20 points.
- Qualifications: Based on the shortage occupation list and S Pass quota of your firm, you will get a maximum of 20 points.
- Firm-related attributes: Firm’s diversity and support to local employment, for a total of up to 20 points.
- Economic contribution: The industry your company is in and the strategic economic value. Up to 20 points.
Exemptions from COMPASS
Candidates are exempted from COMPASS if they meet any of these conditions:
- Have a fixed monthly salary of at least $22,500 (similar to the prevailing Fair Consideration Framework (FCF) job advertising exemption from 1 September 2023)
- Are applying as an overseas intra-corporate transferee
- Are filling the role for 1 month or less
Educational Verification
- All the Singapore Employment Pass applicants must provide proof for their educational qualifications. They must also show that they are accredited with any educational institution.
- The verification should have been completed by the leading screening companies (https://www.mom.gov.sg/passes-and-permits/employment-pass/documents-required#verification-proof-requirements)
Candidates should also use their qualification points as per the COMPASS assessment requirements. To get an employment pass in Singapore, they must also submit proof of verification and qualification through the EP application process.
What is the EP application process in Singapore?
In order to attain the pass, you will have to appear for the Singapore personalised Employment Pass Online Assessment. You will have to undergo a detailed process to get the pass, which includes:
- You need to submit the pass for the EP.
- Once that is approved, the authorities will provide the In-Principle Approval Letter.
- The E-pass will be provided by the Ministry of Manpower, upon raising the request.
- After that is processed, you will receive a notification letter.
- Then, you must register fingerprints and a photo to complete the identification process.
- After the process is complete, you will receive the Employment Pass card.
The card will usually be processed within ten business days. However, the processing time may increase for international companies.
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We’re committed to making the process easy and smooth for you. So, if you’re struggling, contact us today to know more!
