SPASS Minimum Salary

The current minimum salary to be eligible for SPass is $3,650 for Financial services companies; and $3,150 for companies in the other sectors.

However, do note that the Minimum qualifying salary for new SPass applications will increases progressively with age from age 23, up to $5,650 at age 45 and above.

MOM does not public how the min salary is progressively increased. If, let's say, hypothetically, they do it in a simple, liner way, then for every 1 more year of age, the min salary will increase for about $90.

Which means the min salary for people aged 35 is about $4,740 for Financial Services, and about $3,968 for other sectors.

Do not that it is just my hypothesis.

Firms conducting the following business activities are considered to be part of the Financial Services sector:

Fund Management Activities

Holding Companies regulated by MAS, or which have a nexus with MAS-regulated firms

Insurance Agents and Brokers

Insurance and Reinsurance Underwriting

Monetary Intermediation (e.g. Banks, Finance Companies etc.)

Provident and Pension Funding

Risk and Damage Evaluation

Securities and Commodities Exchange

Security and Commodity Contracts Brokerage

Trusts, Funds, and similar Financial Entities

Other Financial Services activities (e.g. Financial Leasing, Credit Granting, Factoring companies, Representative offices of foreign banks, Money-changing services, Remittance services etc.)

Other activities auxiliary to Financial Service activities (e.g. Trustee, fiduciary and custody services; Corporate finance advisory services; Clearing and settlement of financial instruments; Transaction/Payment processing services etc.)

Other activities auxiliary to Insurance and Pension Funding (e.g. Representative offices of foreign insurers and professional reinsurers, Captive managers etc.)

    Hi All,
What's the minimum SPASS salary by age? I'm 35 having an offer from multinational company at 3,890 SDG. My SPASS was rejected due to min salary is not met?  Anyone experience this before?
   

    -@tonhunguyen989