Employee benefits in Singapore
Learn about the robust employee benefits in Singapore, from healthcare to retirement savings. Get the facts.
Quick Overview
Benefits Summary
Benefits coverage standards can differ greatly across countries. The table below shows what statutory, market standard and great coverage look like for each benefit.
All Singaporeans and permanent residents have basic health insurance coverage with MediShield Life and the premiums are paid through your CPF MediSave account. This plan covers:
B2/C-type hospital wards
Lifelong coverage, including pre-existing conditions
Many employers provide Integrated Shield Plans (IPs) to enhance the MediShield coverage. The MediShield Life component of the IP is fully payable by MediSave. The additional private insurance component is also payable by MediSave, but only up to withdrawal limits dependent on age. This additional private insurance covers:
Private hospitals & A/B1-type wards in public hospitals.
Higher annual claim limits
Claims for pre and post hospitalisation treatments
Choice of doctors
Shorter waiting times
Counselling such as Employee Assistance Programs (EAPs)
IP riders are add-ons to your IP. While your Medishield Life and IP are payable by MediSave, IP riders have to be paid in cash. There are a range of riders available; some offer a cash allowance for each day you are hospitalised. Some IP riders reimburse the deductible and co-insurance which is not covered by the IP, covering a larger portion of your hospital bill.
Many employers offer further wellness programs such as subsidised or fully funded gym memberships, yoga or fitness classes, wellness seminars, or wellness challenges.
Basic life insurance is covered by the Central Provident Fund (CPF)
In addition to the CPF’s basic coverage, members can flex up to additional coverage through schemes such as the Dependants' Protection Scheme (DPS) and the ElderShield Scheme, which provide additional protection to members and their families in the event of death or disability.
Some employers offer private group insurance policies to the entire company or individual policies to select employees, such as those in senior management positions or those who work in high-risk occupations. These policies may offer higher coverage amounts than what is available through the CPF.
Singapore has a mandatory Central Provident Fund (CPF) system, which requires employers to contribute to employees' retirement savings
In addition to the CPF, some companies offer additional retirement benefits, such as pension plans or employee stock ownership plans (ESOP)
Six days childcare leave for parents of children under the age of 7. The first 3 days are employer-sponsored and days 4-6 are government-sponsored.
Policies Summary
Policy coverage standards can differ greatly across countries. The table below shows what statutory, market standard and great policy coverage look like for each benefit.
Minimum 7 days
It is common for employers to offer 14 - 28 days annual leave
Unlimited holiday
Minimum 14 days outpatient leave, 60 days hospitalisation leave
Unlimited paid sick leave
For 16 weeks of paid maternity leave, the employee is entitled to receive her usual salary, up to a cap. The employer can claim reimbursement for a portion of the employee's salary from the government.
Some employers offer extended paid maternity leave.
Some employers offer extended paid maternity leave and other support such as childcare subsidies, lactation rooms, and flexible work arrangements.
Fathers are entitled to 2 weeks of paid paternity leave. There is the possibility to share some of the maternity leave weeks.
Some employers offer extended paid paternity leave.
Some employers offer extended paid maternity leave and other support such as childcare subsidies, lactation rooms, and flexible work arrangements.
Employees value flexibilie work arrangments highly, and this is a great way to reduce employees’ overall stress and improve well-being