Moving to Singapore? Ask our regular expats in Singapore questions on relocation and their experience here. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues.
-
lacersout
- Newbie
![Newbie Newbie]()
- Posts: 2
- Joined: Thu, 01 Oct 2020 1:53 pm
-
Quote
-
0
login to like this post
Post
by lacersout » Thu, 01 Oct 2020 2:23 pm
Hi,
I'm an EP holder and have been living in Singapore for the last 5 years. I've recently been made redundant with my last day a few weeks away. I saw this coming a while back so was successful in getting my PEP (and DPs) approved recently to provide some options to us as a family whilst we decide what is next. I'm actively job hunting and our goal is to stay in Singapore.
As a PEP allows me to search for work for up to 6 months, I'm trying to maximise the time before that clock starts ticking by pushing out the PEP activation as far as possible. I understand I will be put onto a 30 day STVP once my EP is cancelled and from speaking to MOM, they said I can activate my PEP any time, including on the final day of STVP. My HR Director has also told me that should I want an extension to my STVP, she can request that once it's within 2 weeks of the original end date. This could in theory give me 2 months additional time before I need to activate my PEP.
I wanted to check if anyone had any advice on this approach (apart from the obvious burning of money with no income coming in)? One issue I'm concerned about is health insurance. All the policies I've looked at require that you are a resident in Singapore and hold a valid FIN (which I assume I won't at the point of my EP cancellation). I'm concerned that if I need to claim on the policy whilst we're on our STVP's, they would unlikely pay out. I could take out a travel insurance policy to cover us for the 2 months but I'm concerned if I put our Singapore address, that might cause other problems.
Sorry for the rambling, has anyone else been in a similar situation? Whilst I know the easiest solution is just to activate the PEP on the day my EP is cancelled, I'm trying to give myself as much time as possible to find a job.
Bob
-
bgd
- Manager
![Manager Manager]()
- Posts: 1684
- Joined: Wed, 25 Jul 2007 4:09 pm
-
Quote
-
0
login to like this post
Post
by bgd » Thu, 01 Oct 2020 11:39 pm
STVP extension is not guaranteed and the requirements for such are now more restrictive. I wouldn't rely on that. Take up the PEP a few days before your pass expires. MOM and the like are struggling with the volumes at the moment. Don't get caught out by a process failure.
-
TropicalExpat
- Chatter
![Chatter Chatter]()
- Posts: 339
- Joined: Thu, 28 May 2020 5:02 pm
-
Answers: 1
-
Quote
-
0
login to like this post
Post
by TropicalExpat » Fri, 02 Oct 2020 8:48 am
On health insurance. I'm assuming your (old) company has some insurance coverage. Ask to contact them directly and see if you can get portability for the plan ... it certainly won't be cheap, but you might get some coverage for a bit.
Like bgd says, don't risk getting caught out by a flub... Just activate the PEP before your STVP expires.
PEP allows a 6 month job hunt. If you can't get it by then ... like you said, you'll be just expending cash here. Singapore isn't a cheap place if you have a family to support.
One thing to bear in mind, covid-19 not withstanding, is the huge preference being shown to Singaporeans at the moment.
Good luck!!!
-
singaporeflyer
- Moderator
![Moderator Moderator]()
- Posts: 4329
- Joined: Mon, 17 Aug 2009 9:49 am
-
Answers: 3
-
Quote
-
0
login to like this post
Post
by singaporeflyer » Fri, 02 Oct 2020 10:36 am
lacersout wrote: ↑Thu, 01 Oct 2020 2:23 pm
Hi,
I'm an EP holder and have been living in Singapore for the last 5 years. I've recently been made redundant with my last day a few weeks away. I saw this coming a while back so was successful in getting my PEP (and DPs) approved recently to provide some options to us as a family whilst we decide what is next. I'm actively job hunting and our goal is to stay in Singapore.
As a PEP allows me to search for work for up to 6 months, I'm trying to maximise the time before that clock starts ticking by pushing out the PEP activation as far as possible. I understand I will be put onto a 30 day STVP once my EP is cancelled and from speaking to MOM, they said I can activate my PEP any time, including on the final day of STVP. My HR Director has also told me that should I want an extension to my STVP, she can request that once it's within 2 weeks of the original end date. This could in theory give me 2 months additional time before I need to activate my PEP.
I wanted to check if anyone had any advice on this approach (apart from the obvious burning of money with no income coming in)? One issue I'm concerned about is health insurance. All the policies I've looked at require that you are a resident in Singapore and hold a valid FIN (which I assume I won't at the point of my EP cancellation). I'm concerned that if I need to claim on the policy whilst we're on our STVP's, they would unlikely pay out. I could take out a travel insurance policy to cover us for the 2 months but I'm concerned if I put our Singapore address, that might cause other problems.
Sorry for the rambling, has anyone else been in a similar situation? Whilst I know the easiest solution is just to activate the PEP on the day my EP is cancelled, I'm trying to give myself as much time as possible to find a job.
Bob
First- Why are you too worried about health insurance for the 2-3 months gap? Do you have any health issues or foresee any coming ?
fyi, if you had taken any policies when you were a resident on SG using your FIN, even if your EP is cancelled and you are in Singapore on STVP, your insurance policy is still valid. This is my understanding. Anyway check this with others.
-
kim.crest
- Newbie
![Newbie Newbie]()
- Posts: 5
- Joined: Tue, 22 Sep 2020 2:29 pm
-
Quote
-
0
login to like this post
Post
by kim.crest » Tue, 06 Oct 2020 2:15 pm
I don't think travel insurance is a choice now because Singapore travel insurance, do not usually cover unless you are flying overseas from Singapore. Second thing is if you are looking at health insurance what is your main concern with regards to it?
-
lacersout
- Newbie
![Newbie Newbie]()
- Posts: 2
- Joined: Thu, 01 Oct 2020 1:53 pm
-
Quote
-
0
login to like this post
Post
by lacersout » Sat, 17 Oct 2020 1:48 pm
The issue is that for 30 days we will be on STVP’s until I activate my PEP. I’m purposely delaying the activation of that to give me more time to find a job. All insurance providers require that you have an active FIN or NRIC to be covered. I’ve taken out a policy but I’m pretty certain the moment my EP gets canceled (in 1 week) the policy will be automatically cancelled.
-
bgd
- Manager
![Manager Manager]()
- Posts: 1684
- Joined: Wed, 25 Jul 2007 4:09 pm
-
Quote
-
0
login to like this post
Post
by bgd » Sat, 17 Oct 2020 4:13 pm
A question for your insurance company I guess. As a matter of interest, your STVP does have your FIN on it, so perhaps the FIN is still active?
-
-
Pros and cons of living in Singapore for near future
Replies: 44
First post
Hi everyone,
Have been in SG since past 6 years and seeing effect of the inflation world-wide and post covid fluctuations, how do we evaluate...
Last post
At the present time, entry level positions at my company start at around S$4-5k per month. Back when I started 25 years ago it was closer to $2-3k...
- 44 Replies
- 15570 Views
-
Last post by malcontent
Mon, 18 Jul 2022 11:46 pm
-
-
PEP Accepted, advice needed
Replies: 4
First post
Hi Everyone,
New to the forum. I've just had my PEP accepted which is fantastic news. I'm now in the process of applying for dependants pass for my...
Last post
Does anyone know the answer to the below?
Does the 36 month time frame start once the PEP issued, or is it in effect starting now with the In...
- 4 Replies
- 2300 Views
-
Last post by singaporeflyer
Wed, 28 Jun 2023 3:36 pm
-
-
Needed info regarding "DECLARATION BY EMPLOYMENT AGENCY" for PEP application
Replies: 1
First post
Hi,
I was hoping to apply for PEP and noticed a section called DECLARATION BY EMPLOYMENT AGENCY. However, I'm currently working under EP quota, and...
Last post
Hi,
I was hoping to apply for PEP and noticed a section called DECLARATION BY EMPLOYMENT AGENCY. However, I'm currently working under EP quota, and...
- 1 Replies
- 2545 Views
-
Last post by simple_guy
Tue, 14 Mar 2023 8:51 pm
-
-
- 3 Replies
- 4054 Views
-
Last post by PartyLike-A-Russian
Mon, 05 Jun 2023 4:57 pm
-
-
Laid of on an EP. Considerations on PEP and PR
Replies: 1
First post
Dear all,
This is my first post but I have been getting a lot of useful insights from the forum since I moved to Singapore 2+ years ago. Thanks...
Last post
From what I know, income is reported per calendar year, and you must cancel the pass if you do not meet it. So you’ll need to hit the minimum annual...
- 1 Replies
- 1458 Views
-
Last post by realtheory
Mon, 11 Mar 2024 9:22 am
Users browsing this forum: No registered users and 1 guest