Central Provident Fund (CPF)
Employers must enrol all Singapore Citizen and Singapore Permanent Resident (SPR) employees and make monthly contributions into the national pension fund.
Employers contribute 17% of the salary of employees aged 55 or below, while employees contribute 20%. The amounts are capped at SGD 1,020 and SGD 1,200 respectively.
While Singapore Citizens and SPRs benefit from MediSave, foreign employees are not entitled to the same benefit. Employers are required to provide health care only to Work Permit and S Pass holder employees. For Employment Pass holders, health insurance is not a requirement.
Most common non-mandatory benefits in Singapore.
Although Singapore has a free public healthcare system for citizens and permanent residents, many companies offer additional private healthcare, which covers non-work accidents and hospitalization, and sometimes extends the benefits to dependents.
Small companies may provide an allowance in lieu of arranging insurance.
Many companies offer a per-day travel allowance or reimbursement of expenses incurred in work-related trips to employees. The per diem amount depends on the location the employee travels to.
Most companies give employees 14 to 20 days of additional paid vacation yearly.
Stock options are a common incentive by companies (dependent on the employee's role), which are often requested by senior executive employees.
Discretionary or contractual annual bonuses of one month's salary or more are standard in Singapore. Their exact amount varies between employees and will typically be tied to employee and company performance. It's not unusual for employees to receive an annual bonus equaling 2-3 monthly salaries during good economic times.
Some companies that require an employee and their family to relocate will cover the costs of shipping personal belongings, airfare, housing, utility bills and school fees.
Some companies offer life insurance to executive employees or an allowance in lieu of arranging the insurance.
Many tech companies in Singapore offer visa sponsorship to attract international talent.
Most tech companies give employees the options to work flexible hours or from home to improve work-life balance.
Most tech companies give new employees their choice of computer and all the gear necessary when joining the company.
Many companies offer training time, including tech workshops, paid conferences, professional training allowance and subscriptions for employees to stay up to date and progress in their career.