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PEP Changes

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brian_singapore
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PEP Changes

Postby brian_singapore » Wed, 03 Dec 2014 11:32 am

Undoubtedly this is old news to most on the forum but thought I'd post in case some folks aren't aware.

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Important: PEP holders to meet new salary requirement by 31st Dec 2014 or conversion to EP
In Nov 2012, Singapore Ministry of Manpower has announced changes to the eligibility criteria of the Personalised Employment Pass (PEP).
Any existing PEP holders who are unable to meet the revised minimum annual fixed salary requirement of S$144,000 by 31st Dec 2014 will need to apply for an Employment Pass sponsored by their employers. PEPs which are due to expire before 1 July 2015 will be allowed to remain valid until expiry without meeting the new salary requirement.
If you are currently a PEP holder within the bank and does not meet the minimum salary requirement, you should have been contacted by our immigration vendor vvvvvvvv in the past week to prepare for an EP application. If you had not being contacted by vvvvvv , please contact them immediately at svvvvvv to avoid any impact to your employment status.
Last edited by brian_singapore on Wed, 03 Dec 2014 10:05 pm, edited 1 time in total.

bgd
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Re: PEP Changes

Postby bgd » Wed, 03 Dec 2014 12:02 pm

The changes came in about 2 years ago so anyone on a PEP should know. Hope it isn't a shock for anyone. :D

PEP holders must complete an annual return declaring their salary for the past year. Last year I remembered because WD40 posted a timely reminder. This year they sent out the return.

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Wd40
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Re: PEP Changes

Postby Wd40 » Wed, 03 Dec 2014 9:39 pm

I believe, company's HR also keep a tab on pass expiry so even if someone forgets it, HR is going to pick it up.

So, from Jan 2015, anyone on PEP is a true big shot expat, eh? :D

My PEP got converted into EP when I changed companies this year and the new company applied for an EP, right away. So far, I believe no one has reported problems with having their PEP converted to EP, so I guess the speculation we were having sometime back that the new PEP rules are meant to bounce some people out, isn't true after all.

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Mi Amigo
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Re: PEP Changes

Postby Mi Amigo » Thu, 04 Dec 2014 2:21 am

Wd40 wrote:I believe, company's HR also keep a tab on pass expiry so even if someone forgets it, HR is going to pick it up.

Not a very wise approach. We've seen examples in the past where an HR department have not been at all diligent regarding employment pass renewals and it is always the employee who suffers. Plus you need to keep in mind that PEP stands for Personalised Employment Pass, so the onus is really on the individual to make sure that all obligations are met.

Just 'assuming' that HR have everything in hand is a risky attitude.
Be careful what you wish for


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