On top of announcing a new minimum qualifying salary for Employment Pass (EP) up from $4,500 to $5,000 and $5,500 for the financial sector, in the budget 2022, that’ll take effect from September this year, the government has also announced a new points system for screening EP applications.
In our previous article; “How Does The Budget 2022 Impact Your Singapore PR Plans?”, we have already shared our thoughts on how the new salary benchmarks may affect your Singapore PR chances.
So, today we will be shedding light on what this new points system really is and how it can influence your PR possibilities? And if you have any further queries, it is best to speak to our experienced immigration experts to get reliable and qualified information.
What Is The New Points System?
The new points system is called COMPASS (Complementarity Assessment Framework) which will come into effect for new EP applications from September 2023 and for renewal applications from September 2024.
In a nutshell points under Compass will be awarded based on four attributes and two bonus criteria wherein an applicant can score up to 20 points for each attribute. The four attributes are salary, qualifications, nationality diversity of the hiring firm, and employers’ support for local employment.
In order to have a successful application, a candidate must score at least 10 points for each of the four criteria to get a total of at least 40 points, resulting in a pass. Moreover, an applicant and your employer can also score points on two bonus criteria — skills bonus and strategic economic priorities bonus.
Why Did The Government Introduce This System?
As per the Manpower Minister Mr. Tan See Leng, the “Compass framework is designed to be a transparent system, so that businesses have clarity and predictability for manpower planning.”
Coupled with the latest changes in the qualifying salary, it is evident that the government has taken a serious approach to ensure that only high-quality EP stock that complements the local workforce remains.
What Does This Mean For You?
If the recent tweaks in the minimum qualifying salary and now the soon-to-be-introduced first-of-its-kind Compass system has indicated anything it is that the criteria of successfully becoming an EP holder or an S Pass holder is constantly going to evolve and new measures are periodically going to be enacted. Plus, it isn’t enough for you to just match the qualifications but now the onus is also upon the employer to take the necessary steps to put itself in the position where it can score ample points and successfully apply for EP for its foreign talents.
What Should Be Your Next Move?
The best way to counter the uncertainty about what the next regulations will be and the effect they might or might not have on your and your family’s life is to obtain the highly valued Singapore PR. As such we strongly advise you to apply asap so that you can minimise the impact of any new EP and S Pass measures that are imminent.
A PR status also gives you the freedom to explore many new job opportunities, helps save invaluable time and money, and can also help you procure an attractive salary package and employee benefits.
We’ve all heard the saying, “it’s better to be safe than sorry” and well, what’s a better safety net than being a Singapore PR and bypassing all the troubles, tension, and unpredictability. Having the foresight to secure your long-term future now before any new measures go into effect is much more rewarding than looking back at this time in the future and saying “what if” and “I should’ve!”
Becoming a Singapore PR might be a dream that can be a solution to your troubles, but what can make this a reality is having experienced immigration experts in your corner who have insights on the technical aspects and an in-depth understanding of how the government reviews each profile and the different criteria they are looking for in its potential PRs.
So, let us help you create a strong application that makes you stand out from thousands of other applicants and brings to fruition your long-term plans of living in Singapore.