OVER S$5.5 billion in payouts under the Jobs Support Scheme (JSS) will be disbursed to more than 140,000 employers from Oct 29, to subsidise the June to August wages of about 1.9 million local employees.
The latest payout brings the total amount of JSS support to more than S$21.5 billion, the Ministry of Finance (MOF) and Inland Revenue Authority of Singapore (Iras) said in a joint press statement on Monday.
Employers will receive support for wages paid in June, July and August 2020 based on their respective support tiers.
Those in the aviation, tourism, and built environment sectors will receive 75 per cent support, while employers in the food services, retail, arts and entertainment, land transport, and marine and offshore will receive 50 per cent. Employers in all other sectors will receive 25 per cent.
Firms in industries not allowed to resume on-site operations after the "circuit-breaker" period will have their support levels topped up to 75 per cent for the period they were not allowed to resume operations.
MOF and Iras said employers with PayNow Corporate or GIRO arrangements with Iras can expect to receive their JSS payouts earlier from Oct 29. Other employers will receive their cheques from Nov 4.
Employers are encouraged to sign up for PayNow Corporate by Oct 23 to receive their payouts earlier and seamlessly, MOF and Iras said.
The latest payout is the third JSS payout out of five.
In a social media post on Monday, Deputy Prime Minister and Finance Minister Heng Swee Keat said: "I urge all employers to do their best to retain their workers during this difficult period."
For businesses that continue to grow, Mr Heng said there is the Jobs Growth Incentive to encourage the hiring of local workers, especially those in their middle age.
Mr Heng said in a ministerial statement on Aug 17 that the JSS wage subsidy will be extended by up to seven months, covering wages paid up to March 2021, although support levels and duration will vary by sector.