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To help you choose the perfect package for your team, we’ve outlined what counts as a:
- statutory requirement
- standard benefit
- great benefit
Statutory
Market Standard
Great
Holidays
Statutory
Not applicable
Minimum 7 days
Competitive
It is common for employers to offer 14 - 28 days annual leave
Above & Beyond
Unlimited holiday
Flex working
Statutory
Not applicable
Competitive
Employees value flexibilie work arrangments highly, and this is a great way to reduce employees’ overall stress and improve well-being
Above & Beyond
Sick leave
Statutory
Not applicable
Minimum 14 days outpatient leave, 60 days hospitalisation leave
Competitive
Above & Beyond
Unlimited paid sick leave
Maternity
Statutory
Not applicable
For 16 weeks of paid maternity leave, the employee is entitled to receive her usual salary, up to a cap. The employer can claim reimbursement for a portion of the employee's salary from the government.
Competitive
Some employers offer extended paid maternity leave.
Above & Beyond
Some employers offer extended paid maternity leave and other support such as childcare subsidies, lactation rooms, and flexible work arrangements.
Paternity
Statutory
Not applicable
Fathers are entitled to 2 weeks of paid paternity leave. There is the possibility to share some of the maternity leave weeks.
Competitive
Some employers offer extended paid paternity leave.
Above & Beyond
Some employers offer extended paid maternity leave and other support such as childcare subsidies, lactation rooms, and flexible work arrangements.
Other
Statutory
Not applicable
Six days childcare leave for parents of children under the age of 7. The first 3 days are employer-sponsored and days 4-6 are government-sponsored.
Competitive
Above & Beyond
Statutory
Market Standard
Great
Medical
Statutory
Not applicable
All Singaporeans and permanent residents have basic health insurance coverage with MediShield Life and the premiums are paid through your CPF MediSave account. This plan covers:
- B2/C-type hospital wards
- Lifelong coverage, including pre-existing conditions
Competitive
Many employers provide Integrated Shield Plans (IPs) to enhance the MediShield coverage. The MediShield Life component of the IP is fully payable by MediSave. The additional private insurance component is also payable by MediSave, but only up to withdrawal limits dependent on age. This additional private insurance covers:
- Private hospitals & A/B1-type wards in public hospitals.
- Higher annual claim limits
- Claims for pre and post hospitalisation treatments
- Choice of doctors
- Shorter waiting times
Above & Beyond
IP riders are add-ons to your IP. While your Medishield Life and IP are payable by MediSave, IP riders have to be paid in cash. There are a range of riders available; some offer a cash allowance for each day you are hospitalised. Some IP riders reimburse the deductible and co-insurance which is not covered by the IP, covering a larger portion of your hospital bill.
Life insurance
Statutory
Not applicable
Basic life insurance is covered by the Central Provident Fund (CPF)
Competitive
In addition to the CPF’s basic coverage, members can flex up to additional coverage through schemes such as the Dependants' Protection Scheme (DPS) and the ElderShield Scheme, which provide additional protection to members and their families in the event of death or disability.
Above & Beyond
Some employers offer private group insurance policies to the entire company or individual policies to select employees, such as those in senior management positions or those who work in high-risk occupations. These policies may offer higher coverage amounts than what is available through the CPF.
Pension
Statutory
Not applicable
Singapore has a mandatory Central Provident Fund (CPF) system, which requires employers to contribute to employees' retirement savings
Competitive
In addition to the CPF, some companies offer additional retirement benefits, such as pension plans or employee stock ownership plans (ESOP)
Above & Beyond
Statutory
Market Standard
Great
Wellbeing
Statutory
Not applicable
Competitive
Some kind of counselling such as Employee Assistance Programs (EAPs)
Above & Beyond
Many employers offer further wellness programs such as subsidised or fully funded gym memberships, yoga or fitness classes, wellness seminars, or wellness challenges.
Work related travel
Statutory
Not applicable
Competitive
Above & Beyond
Relocation assistance, commute support
Other
Statutory
Not applicable
Competitive
Above & Beyond
Equity, cash bonus
We’ve narrowed down how employee benefits affect:
- Tax reporting
- Employer tax
- Employee tax
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Tax Reporting
Employer Tax
Employee Tax
Tax Reporting
Employer Tax
Employee Tax
Tax Reporting
Employer Tax
Employee Tax