NEW WAGE GUIDELINES BY NATIONAL WAGE COUNCIL

23/11/2022

The NWC recommends a “fair and sustainable” rise in wages for the period from 1 Dec 2022 to 30 Nov 2023:

Lower-wage workers who are earning a gross monthly wage of up to $2,200, are to get higher wage increments of 5.5 per cent to 7.5 per cent, or of at least $80 to $100.
Companies are encouraged to beef up the monthly variable component of employees’ pay so that it can be adjusted when times get tough
NWC is calling on employers to provide higher percentage wage increases for workers who are earning comparatively lower wages
The Government will continue to support employers in uplifting lower-wage workers through the 5-year Progressive Wage Credit Scheme, which co-funds eligible lower-wage worker wage increases.

More details can be found at MOM’s website.

#cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Wages #Increments