0904 jgi-infographic
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The Jobs Growth Incentive provides substantial salary support to employers to accelerate hiring between September 2020 to February 2021 and create good long-term jobs for locals. Eligible employers will receive 25-50% wage support on the first $5,000 monthly wage of new local hires for up to 12 months. To qualify, employers must increase both their overall and higher-wage local workforce sizes above their August 2020 levels. Payouts will be automatically computed monthly and paid out quarterly from March 2021 to May 2022.
0904 jgi-infographic
- 1. The Jobs Growth Incentive supports employers to accelerate their hiring over the next six months, from Sep 2020 Feb 2021 (inclusive) so as to create good and long-term jobs for locals. FIVE THINGS YOU NEED TO KNOW ABOUT THE JOBS GROWTH INCENTIVE (JGI) For employers, it means substantial salary support to help them expand and seize new opportunities. For jobseekers, it means more job opportunities during this slack labour market, with greater support for mature jobseekers. JGI By ful鍖lling both criteria on increasing its local workforce between Sep 2020 and Feb 2021 (inclusive) above the local workforce size in Aug 2020: Overall local workforce size; AND Local workforce size earning $1,400 of gross monthly wages. A. Overall local workforce size B. Local workforce size earning $1.4k Aug 2020 Aug 2020 Sep 2020 onwards Sep 2020 onwards 1. What does the JGI mean for my 鍖rm and for jobseekers? 2. How can my 鍖rm meet the eligibility criteria for the JGI? For more information, visit: go.gov.sg/jgi
- 2. 4. What if existing local employees from Aug 2020 leave my 鍖rm? 3. Which of my employees qualify and how much will my 鍖rm receive? 5. When will my 鍖rm receive the payouts? New local hires between Sep 2020 and Feb 2021 qualify for the JGI. For each new local hire who quali鍖es, you will receive: To receive the JGI for full 12 months from the month of hire for each new local hire, the employer must continue to meet the eligibility criteria. Age of new local hire: 40 years old < 40 years old of 鍖rst $5,000 of gross monthly wage, i.e. $15,000, for up to 12 months of 鍖rst $5,000 of gross monthly wage, i.e. $30,000, for up to 12 months To receive up to: 50% 25% % The JGI payout will be adjusted if any existing local employees (under the 鍖rms employment in Aug 2020) leave. The adjustment factor will be higher if more existing local employees leave the employer. Aug Existing local employees Existing local employees + New hires Sep onwards Payout computed based on mandatory CPF contributions for: *Gross wages will be derived based on mandatory CPF contributions paid on or before 14th of the following month. Employers must make timely CPF contributions to qualify for JGI payouts. Sep 2020 Nov 2020 Dec 2020 Feb 2021 Mar 2021 May 2021 Jun 2021 Aug 2021 Sep 2021 Nov 2021 Dec 2021 Jan 2022 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 May 2022 Month of JGI Payout The 鍖rst payout will be made from Mar 2021. Payouts will be automatically computed on a monthly basis based on the employers mandatory CPF contributions* and disbursed quarterly to eligible employers; employers do not need to apply. 10%JGI adjustment 1 out of 10 existing local employees left 鍖rm For more information, visit: go.gov.sg/jgi