KUALA LUMPUR - Singapore will introduce wide-ranging changes to its foreign work pass system to attract skilled professionals while keeping Singaporeans at the core of the workforce, Prime Minister Lawrence Wong said.

“Foreign professionals and workers strengthen our teams, transfer knowledge and enable companies to grow – this in turn creates more and better opportunities for Singaporeans.

“At the same time, we will continue to ensure that our foreign workforce complements a strong Singaporean core,” he said in his Budget statement on February 12, as reported by The Straits Times.

One key change involves raising the minimum qualifying salary for new Employment Pass applicants from January 2027 and for renewals from the following year.

The qualifying monthly salary will be increased to $6,000 from the current $5,600, in line with rising local wages.

Mr Wong said the minimum qualifying salary for Employment Pass applicants in the financial services sector will be raised to $6,600 from $6,200.

He said candidates aged 45 and above will face higher thresholds of up to $11,500, and up to $12,700 in the financial services sector.

The minimum qualifying salary for new S Pass applicants will also be raised from January 2027, with renewals affected from the year after.

Their qualifying salary will be increased to $3,600 from $3,300, and to $4,000 from $3,800 in the financial services sector.

For S Pass candidates aged 45 and above, the salary threshold will rise to up to $5,100, and to up to $5,650 for those in financial services.

Mr Wong said adjustments to work permit levies will take effect from 2028 to give businesses sufficient time to adapt.

In the marine shipyard sector, the monthly levy for basic-skilled workers will rise by $100, with no change for higher-skilled workers.

In the process sector, the levy for basic-skilled workers will increase by $150, while rates for higher-skilled workers will remain unchanged.

For the manufacturing and services sector, the current three-tier levy system will be reduced to two tiers from 2028.

As at June 2025, there were 201,200 Employment Pass holders, 177,600 S Pass holders and 1,182,500 work permit holders, according to the Ministry of Manpower.

More details on the policy changes will be announced during the debate on the ministry’s budget.

Mr Wong said the measures reflect Singapore’s strategy to remain open to global talent while safeguarding local employment.

“We will help Singaporeans adapt to change with confidence, move across career transitions with assurance, and build meaningful and fulfilling careers,” he said.