Over $1 billion in 2020 Wage Credit Scheme payouts to more than 95,000 employers

22 Dec 2020

Ref No: 221220 (1)
UEN: S97SS0046G

The Ministry of Finance and the Inland Revenue Authority of Singapore have issued a joint press release to remind employers to make the full CPF contributions for their employees by 14 January 2021, in order to receive the next tranche of Wage Credit Scheme (WCS) payouts in March 2021.

The next tranche of payouts in March 2021 is for qualifying wage increases in 2020. The payouts will be credited directly to eligible employers’ registered bank accounts through PayNow Corporate or GIRO. Employers who have not already done so are advised to set up a PayNow Corporate account or register for GIRO early. Employers are encouraged to do so by end-February to receive the payouts in March.

Please click here to view the press release. To view the WCS infographics, please click here.

For further information and assistance on the WCS, you may visit the IRAS website (https://www.iras.gov.sg/irasHome/wcs.aspx). Alternatively, you may contact IRAS at 1800-352-4727 or wcs@iras.gov.sg.

Our Warmest Regards,

ASPRI Secretariat