We want to draw your attention to some significant changes which will be made to the Work Injury Compensation Act with effect from 1 January 2020 and 1 April 2020. These changes need to be communicated to you to ensure that you are aware of and compliant with the guidelines when providing the necessary information to you.
Key Changes with effect from 1 January 2020
With effect from 1 January 2020, these are the key changes to compensation limits:
Benefit Limits Current Limits New Limits from 1 January 2020
Key Change with effect from 1 April 2020
With effect from 1 April 2020, it will also be mandatory to insure non-manual employees whose Monthly Basic Salary is S$2,100 and below. Please review wages on your existing account(s), to take the increase in basic monthly salary threshold into consideration if this category of employees is currently not insured.
We also wish to inform you that with the increase in compensation limits that will take effect from 1 January 2020, the insurer may have to make some adjustments to the premium rates due to the additional costs incurred by insurers.
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