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GPSGP: Global Payroll Singapore Legislative Changes for Tax Year 2020-2021 (Doc ID 2652785.1)

Last updated on FEBRUARY 08, 2021

Applies to:

PeopleSoft Enterprise HCM Global Payroll Singapore
Information in this document applies to any platform.
NIL.




Details

The intent of this document is to describe solutions for problems or questions related to Global Payroll Singapore Legislative Changes 2020-2021. This solution applies to customers on PeopleSoft Release 9.2. This is a living document and will be updated as new solutions are created. Please review thoroughly on a regular basis.

(Last updated 22nd June 2020) Summary Table - see below for details:

Legislative Change Effective Date Additional Info                                            P1 Patch Fix Target Date Targeted into Pum
GP SGP - CHANGES CPF CONTRIBUTION RATE FOR SENIOR CITIZEN WORKERS  
  1. The Retirement age RA and Re-employment Age (REA) will be raised gradually from 62 to 65 and 67 to 70 respectively by 2030. The first increase of RA to 63 and REA to 68 will take place in 01 July 2022.
  2. The new CPF contribution rates raised gradually for Singaporean and Permanent resident workers aged above 55 to 70 years. The first increase is effective 01 Jan 2021

Release 9.2: 31082518, TBD

 

 
COVID 19 Updates  

The Quarantine Order Allowance is set up to mitigate financial impact to employers. When the employees completed their quarantine order, claims of SGD$100 per day can be made by Singapore-registered companies whose employees under QO fall under any of the employment category like Singaporean Citizens, Permanent Residents or Work pass Holders.

Details:-

Employees who are served a QO will be deemed to be on paid sick leave. The period of absence from work treated as paid hospitalization leave, as part of the employee’s hospitalization leave eligibility under their employment contracts or agreements. 

Oracle PeopleSoft Global Payroll for Singapore has delivered HSP LVE ENT (Hospital Leave Entitlement) element that can be used against this absence type. The element is governed by a generation control HSP GC ELIG which is used for calculating eligibility.

 

 

As there is no impact to the product for the proposed changes, no patch will be delivered.

 
COVID 19 Budget changes - JSS and FWL  

To support employers during COVID-19, Minister of Finance and Deputy Prime Minister, Singapore has delivered a fortitude budget on 29th May 2020. The Government announced extension of FWL waiver and rebate for additional 2 months, including Job Support Scheme and Hiring incentive as measures to support employers during this crisis time.

Guidance Document to achieve the changes  

 

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