HR News & Updates August 2024: Expanded Parental Leave Scheme in Singapore & More
Posted on 30 August 2024 in Business | Suki Bajaj
Let’s take a look at Singapore’s top HR news and events including the expanded parental leave scheme, salary increase for low-wage workers, enhanced CPF benefits for platform workers, and more.
NDR 2024: Expanded Parental Leave Scheme in Singapore
Eligible parents of babies born on or after April 1, 2025, will have access to the expanded shared parental leave scheme which will be implemented in two phases.
Under the current Shared Parental Leave (SPL) policy, mothers can share up to 4 weeks of their maternity leave with their husbands until March 31, 2025.
Starting from April 1, 2025, this will increase to 6 weeks of shared leave between both parents, and further to 10 weeks shared between both parents starting from April 1, 2026.
For both new SPL policies, the leaves are initially shared equally between both parents, but parents can change the allocation within 4 weeks after the child's birth.
Regarding Government Paid Paternity Leave (GPPL), fathers currently have 2 weeks of GPPL, with an additional 2 weeks offered by employers on a voluntary basis. However, starting from April 1, 2025, all eligible fathers will receive 4 weeks of GPPL.
Read OnLow-Wage Workers See 10% Pay Increase Reaching $1,800
The average monthly salary of full-time employed residents in the lowest 10% income bracket increased by 50% to $1,800 in 2023.
This increase is due to several government initiatives, including the Progressive Wage Model, Local Qualifying Salary, and the Progressive Wage Mark accreditation scheme. These programs benefit up to 90% of full-time lower-wage workers.
Additionally, starting 2025, lower-income workers can receive further support through the Workfare Income Supplement scheme, which provides payments of up to $4,900 per year to workers aged 30 and older.
Read OnPlatform Workers to Get Full CPF Coverage in First Year
Starting in 2025, the Singapore government will fully cover the increased CPF contributions in the first year for younger platform workers born in 1995 or later, as well as older workers who opt in.
Older platform workers who choose to contribute more will also receive this subsidy. This is intended to alleviate concerns about lower take-home pay.
Along with the contribution subsidy, the government will also implement stronger protections for platform workers starting in 2025. These measures aim to improve the working conditions and benefits for platform workers.
Read OnExpanded Financial Aid for Retrenched Workers in Singapore
The Singapore government will be extending financial support worth $6,000 to employees who have been retrenched by their employers.
This is in response to a significant increase in retrenchments in 2023 due to reorganisation or restructuring within firms.
The program aims to support lower- and middle-income workers and encourage them to find new employment.
Read OnNTUC Urges Upskilling of Resident Workers
The National Trades Union Congress (NTUC) has emphasized the importance of upskilling Singaporean workers to maintain their relevance in the job market.
They argue that this would help address the decline in resident employment and ensure the country's workforce remains adaptable to a rapidly evolving economy.
Read OnHigher Wages and Flexible Work Drive Singapore's Gig Economy Growth
Singapore’s gig economy is booming, with a 50% surge in job applications and rising earnings in the healthcare and hospitality sectors.
Singapore’s gig economy is significantly transforming, with hybrid work models and increased compensation becoming more prevalent in traditional sectors.
The healthcare and hospitality industries are leading this shift, with demand for gig employees rising and hourly rates reaching up to S$22.
Read On