Hurrah!: More than 51,000 employers to receive Special Employment Credit

The Government will be giving a total of $17 million in SEC by 30 September 2011.

The Government will give out the first payment of the Special Employment Credit by 30 September 2011. More than 51,000 employers will receive a total of $17 million in SEC for employing 167,000 older, low-wage Singaporeans in the first half of 2011. Eligible employers will be notified by the CPF Board from 19 September 2011.

The SEC was announced in February 2011 as a one-off Budget measure to support employers and encourage them to employ Singaporean employees aged above 55 and earning up to $1,700 a month. The SEC will be paid twice a year in March and September to employers that have eligible employees on the payroll between January 2011 and December 2013. It is expected to cost the Government $100 million over the three years.