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Raising minimum qualifying salary of work pass holders may not be long-term solution, say companies

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SINGAPORE — While higher manpower costs would be inevitable with the latest changes to salary requirements for work pass holders, companies TODAY spoke to said the impact on costs is not something they are too concerned about.

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Salary floor for Employment Pass holders in finance to be raised to S$5,000MINIMUM salaries for Employment Pass (EP) holders in the financial services sector will be raised to S$5,000 from December, said the Ministry of Manpower (MOM) on Thursday, setting the bar S$500 higher than the tightened criteria for other sectors in the economy. Read more at The Business Times.
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