When it comes to employment opportunities in Singapore for foreign talent, benefits and visas are the most critical before signing the contract. These employee benefits are different across the world – check out what are the common employees benefits in Singapore.
What are the Main Types of Leaves in Singapore
The most common type of leaves are annual leave and medical & hospitalisation leave.
Annual Leave
- Entry-level employee is entitled to 12 days of paid annual leave
- Amount will be pro-rated based on the number of months worked
- The number of leaves will increase with the length of stay in the company
Medical & Hospitalisation Leave
- Paid sick leaves are entitled with an official Medical Certification
- Up to 14 days of outpatient sick leave
- Up to 14 days of hospitalisation leaves – this is only valid if the employee is warded or requires bed rest
- Medical fees will be partly reimbursed dependent on each individuals’ contract
Find out more about getting medications and Singapore’s health facilities here!
Annual Wage Supplement (AWS) & Bonus
Aside from the entitled paid leaves, AWS, also known as ’13-Month Bonus’ and bonuses are additional common entitlements for employees, although it is not compulsory.
AWS is a single annual payment
Bonuses are offered at the end of each year to reward employees
Not compulsory unless stated in the employment contract
Other Allowances & Employee Benefits in Singapore
The other common benefits and allowances include:
Transportation Reimbursements
- Tax relief on transportation or transport-related allowances
- Includes parking costs, taxi fares, or fixed monthly transport allowance
- Not taxable in Singapore
Retirement Benefits
- Singaporean employers need to deduct a certain percentage for retirement
- CPF members above 62 can claim their pension
- Compulsory CPF is tax-free for both employers and employees
Housing Allowance
- Depends on your position and the allowance is dependent on your position
- Includes covering the costs of rental for your apartment
Drafting an employment contract that is aligned to the legislation provided by the Ministry of Manpower (MOM) can be a hassle. Leave that work to us while you grow your business to success! If you’re looking to set up your company in Singapore, we’re here to help too!
FAQs
Yes, Singaporean workers enjoy among others; relatively higher wages, excellent working conditions, world–class business development, and staff investment opportunities.
Some of the benefits that most potential employees look for in a company include among others:
- Medical and dental insurance benefits
- Work from home plan
- Dressing code
- Continual education reimbursement
The usual number of compassionate leave in Singapore is 2-3 days.
The 13-month bonus which is also known as Annual Wage Supplement (AWS), is not specified in the law thus not mandated. Unless it is written as part of your employment contract, your employer is not obligated to meet it.
The most common benefits that are given to Singaporean employees include:
- Retirement benefits
- Medical benefits
- Disability benefits
- Life insurance
- Annual paid leave benefits
