SINGAPORE: The setting of a new salary benchmark and other planned changes that will be made alongside the introduction of a new talent work pass do not constitute a relaxation of existing policies, said Manpower Minister Tan See Leng in Parliament on Monday (Sep 12).
Dr Tan was responding to parliamentary questions about the Overseas Networks & Expertise Pass – a new work pass that will be introduced to strengthen Singapore’s position as a global talent hub.
The work pass is meant for talent from any sector who earns a monthly salary of S$30,000 and above, or has “outstanding achievements” in the areas of science and technology, arts and culture, research and academia, or sports, authorities said.
It will be rolled out alongside other adjustments to Singapore’s work pass framework.
For instance, the Ministry of Manpower (MOM) will set a single benchmark for the top 10 per cent of Employment Pass (EP) holders, and the salary threshold for a number of requirements for work pass applications will be aligned to this. The new threshold is set at $22,500 and will start in September 2023.
This will affect advertising for a job opening under the Fair Consideration Framework (FCF) and the new Complementarity Assessment Framework (COMPASS).
FCF advertising refers to a requirement for companies here to advertise a job opening for a specified time period before hiring a non-local, while COMPASS is a new points system for EP applicants that will kick in from Sep 1 next year.
Currently, if the monthly salary for a particular position is S$20,000 or more, companies do not have to advertise under FCF and the candidate is exempt from COMPASS requirements. This will be adjusted upwards to S$22,500.
Dr Tan, in a ministerial statement, described these as “highly-targeted enhancements” that are aimed at attracting top talent in diverse fields and experienced tech professionals in areas of skills shortages. They will also help give the country “significant first-mover and sustainable competitive advantages” in new growth areas.
He added: “The new benchmark for existing schemes, including the exemption from the Fair Consideration Framework, or FCF job advertising requirement, and COMPASS – let me clarify that this is not a relaxation of our policies.”