CM7 is subtly here?

[Invigorated]

Read this off another forum.

 

MOM implements new rules on PEP.

 

MOM : new rules on PEP

 

Changes to the Personalised Employment Pass

 

From 1 December 2012, the qualifying criteria for the Personalised Employment Pass (PEP) will be raised and some of its features will be refined. This ensures that the PEP remains a premium pass for top-tier foreign talent and is in line with recent moves to raise the quality of Employment Pass holders. The changes are:

 

Availability of PEP to P1 Pass holders who earn a fixed monthly salary of at least $12,000 and overseas-based foreign professionals whose last drawn fixed monthly salary was at least $18,000.

Increase of minimum annual fixed salary requirement from $34,000 to $144,000.

Change in validity of PEP from 5 years to 3 years.

New PEP holders can bring in their parents, spouses and children.

For more information, please refer to our FAQs.

 

Debate on expat forum : link

Edited November 6, 2012 by Invigorated

[Invigorated]

Quite worrying for me as am planning to rent out my flat. Will this affect the lower end Hdb rental mkt?

[Simon29]

This only means the FT will be able to afford higher rentals or even buy private properties, since their salary is increased to $144,000.

Huat for many investors and rental units. Demands for properties will shoot up the roof!

The recent newspaper harping on the manpower shortage......seems to imply that the FT floodgate will have to open up sooner or later. Properties will continue to trend upwards once the public is sold and understand that the floodgate will have to reopen to solve the manpower shortages!

 

$1million HDB will be common place soon.

[Gee]

with the salary cap increase, it can go either ways.

companies wish to retain will increase their PEP holder salary (aka big company) or

replace with cheaper or on par local if can't afford to retain (aka smaller company)

 

what is it good for?

[Thedream]

Cyanogen Mod 7???