SINGAPORE – Local retail workers are set to get salary increases of 8.4 per cent to 8.5 per cent annually over the next three years under a proposed wage ladder to boost low wages in the sector.
This is expected to take effect from Sept 1 this year to Aug 31, 2025.
The wage increase is one of the recommendations announced by the Tripartite Cluster for Retail Industry (TCR) on Monday (Aug 15) under the Progressive Wage Model (PWM).
Other key recommendations include minimum training requirements for all retail job roles under the model and a clear career progression pathway.
The PWM is a wage ladder that sets out the minimum monthly salary for local low-wage workers based on their skills and training. It will cover 46,000 full-time and part-time retail workers who are Singaporeans or permanent residents.
The Government will co-fund the salary increases under the Progressive Wage Credit Scheme. The scheme was announced during this year’s Budget to provide transitional wage support for employers.
To help retailers cope with the increase in costs, the Government will co-fund 75 per cent of the salary increase for workers with gross monthly wages of up to $2,500 in 2022, and 45 per cent for workers with gross monthly wages of $2,500 to $3,000.
Labour MP and TCR chair Yeo Wan Ling said at the announcement that the retail industry employs about 87,000 Singaporean and permanent resident employees, constituting 4.5 per cent of all such employees in Singapore.
The wage ladder will help provide retail workers with a clear career progression pathway, she said.
“It would help them grow with the evolving retail industry, and help retail firms retain and attract new entrants,” she said.
Introduced in 2012, the PWM has already been implemented in the cleaning, security and landscape sectors, as well as for those in lift and escalator maintenance. A PWM for the waste management industry was announced in January this year and will raise the wages of workers in the sector from 2023 to 2028.
Labour MPs have called for the model to be extended to more sectors such as strata and facilities management as well as pest management.
Retail staff set to get 8.4-8.5% annual pay increases over next 3 years under Progressive Wage Model & Latest News Update
Retail staff set to get 8.4-8.5% annual pay increases over next 3 years under Progressive Wage Model & More Live News
All this news that I have made and shared for you people, you will like it very much and in it we keep bringing topics for you people like every time so that you keep getting news information like trending topics and you It is our goal to be able to get
all kinds of news without going through us so that we can reach you the latest and best news for free so that you can move ahead further by getting the information of that news together with you. Later on, we will continue
to give information about more today world news update types of latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people.
Retail staff set to get 8.4-8.5% annual pay increases over next 3 years under Progressive Wage Model & More News Today
All this news that I have brought up to you or will be the most different and best news that you people are not going to get anywhere, along with the information Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this made available to all of you so that you are always connected with the news, stay ahead in the matter and keep getting today news all types of news for free till today so that you can get the news by getting it. Always take two steps forward
Credit Goes To News Website – This Original Content Owner News Website . This Is Not My Content So If You Want To Read Original Content You Can Follow Below Links