SINGAPORE - More than 140,000 employers will get over $4 billion in Jobs Support Scheme (JSS) payouts from May 28, said Deputy Prime Minister Heng Swee Keat.
This is part of the more than $20 billion the Government has committed over three Budgets to the scheme, he said in a Facebook post on Sunday (May 17).
Under the upcoming payout for this month, the Government will pay 75 per cent of the first $4,600 of gross monthly wages per local worker to help firms during the coronavirus pandemic.
Mr Heng, who is also Finance Minister, said the wage support for firms in Singapore is very significant, and urged companies to use the subsidies to retain their workers.
In a statement the same day, the Ministry of Finance (MOF) said employers need not apply for the scheme as the money will be automatically computed using Central Provident Fund data as at Feb 14.
Employers who register for PayNow Corporate with their banks by Friday (May 22) can expect to receive the payment by May 28, the ministry added.
Others will get cheques between June 3 and 5.
This month's payouts will be computed based on last November's wages, and future JSS payouts will be adjusted to account for the actual wages paid this month, MOF said.
It added that some local shareholder-directors will also qualify for the JSS under an enhancement to the scheme announced on April 21.
The upcoming payment will include back-payments for firms with such shareholder-directors whose wages were excluded from the first JSS payout last month.
Mr Heng also thanked companies who have returned their payouts. As of May 9, 32 companies have returned $35 million in JSS payouts and also pledged to decline further such payouts.
On Thursday (May 14), Second Minister for Finance Indranee Rajah said more than $16 billion in Covid-19 government assistance had been given out, including $7 billion under the JSS.