GPSGP: Global Payroll Singapore Legislative Changes for Tax Year 2023-2024
(Doc ID 2929604.1)
Last updated on OCTOBER 05, 2023
Applies to:PeopleSoft Enterprise HCM Global Payroll Singapore - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
The intent of this document is to describe solutions for problems or questions related to Global Payroll Singapore Legislative Changes 2023-2024. 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 21st Feb 2023) Summary Table - see below for details:
|Legislative Change||Effective Date||Additional Info||P1 Patch Fix Target Date||Targeted into Pum||Supporting Document|
|Changes to Foreign Worker Levy - 2023||1st September 2023|| Last year the Ministry of Manpower (MOM) announced a progressive increase of levy to the Singapore Pass (S-Pass) holders and employees working in Construction and Process sectors.
The changes with respective to Sept 2022 were already delivered.
We will now deliver the change in rate which is effective from 1st September 2023
|<Bug 34299027>||PUM # 46|
|Increase in the CPF Ordinary wage ceiling effective 1st Sept 2023||1st September 2023||Ordinary wage ceiling change effective Sept 2023||<Bug 35102037>||
PUM # 47 (PRP)
|Increase in CPF contribution rates for senior workers and ordinary wage ceiling effective 1st Jan 2024||1st January 2024||Ordinary wage ceiling changes and increase CPF contribution rates effective 1st January 2024.||
PUM # 48 (PRP)
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