Between September 2023 and August 2024, 1,400 PEP applications were approved, down from 3,200 during the same period the previous year
THE number of approved Personalised Employment Pass (PEP) applications has dropped by more than half following a hike in the minimum salary requirement, which came into effect on Sep 1, 2023.
Between September 2023 and August 2024, 1,400 PEP applications were approved, down from 3,200 during the same period the previous year.
This decline follows the rise in the minimum fixed monthly salary threshold for PEP eligibility to S$22,500, which took effect on Sep 1, 2023.
Manpower Minister Tan See Leng shared these figures in a written response to a parliamentary question from Member of Parliament Patrick Tay on Wednesday (Oct 16).
The PEP, designed for high-earning Employment Pass (EP) holders or overseas professionals, is valid for up to three years and is non-renewable.
Applicants must meet the revised monthly salary threshold of S$22,500 – which was raised from S$12,000 – to qualify. The S$22,500 salary benchmark is pegged to the top 10 per cent of EP holders.
Compared to other work passes, the PEP offers greater flexibility, allowing holders to switch employers without reapplying, provided they remain employed in Singapore.
It also allows holders to stay in the Republic for up to six months while seeking new employment.