The National Wage Council (NWC) has advised employers in Singapore to give employees a one-off lump sum payment to help cope with rising costs.
This is part of its annual guidelines which were accepted by the government.
The guidelines apply to a period from Dec. 1, 2023 to Nov. 30, 2024, The Straits Times reported.
The council added that lower-wage workers earning up to S$2,500 in gross monthly wage should receive a pay increment of at least 5.5 per cent to 7.5 per cent in the coming year.
Employers that have done well and face positive business prospects should give lower-wage workers an increase of at least S$85 to S$105, whichever is higher, while employers that have done well but face uncertain prospects, should give a pay raise in the lower to middle bound of the range.
Employers that have not performed well can consider giving a pay raise at the lower bound of the range.
The last time NWC made similar recommendations were in 2008 and 2011 when inflation was high, CNA reported.
https://mothership.sg/2023/10/national-wage-council-one-off-payment-recommendations/
