The Temporary Employment Credit (TEC) scheme ran from 2015 to 2017, and has already stopped.
TEC has stopped
The TEC has already stopped.
The final TEC payout was paid out to all eligible employers in April 2018.
MOM will no longer accept queries relating to TEC from 1 October 2019.
Calculate TEC payout
TEC payouts were made to eligible employers based on CPF contributions they made for their employees from January 2015 to December 2017.
| Year |
TEC
(% of monthly wages)
|
TEC annual cap
(based on CPF Annual Limit) per eligible employee
|
| 2017 |
0.5%
Up to the Ordinary Wage ceiling of $6,000 per month
Or
Up to CPF Annual Limit of $102,000 per year
(includes Ordinary Wages and Additional Wages earned within the year, if applicable)
|
$510 |
| 2016 |
1%
Up to the Ordinary Wage ceiling of $6,000 per month
Or
Up to CPF Annual Limit of $102,000 per year
(includes Ordinary Wages and Additional Wages earned within the year, if applicable)
|
$1,020 |
| 2015 |
1%
Up to the Ordinary Wage ceiling of $5,000 per month
Or
Up to CPF Annual Limit of $85,000 per year
(includes Ordinary Wages and Additional Wages earned within the year, if applicable)
|
$850 |
TEC payouts are taxable as the payout is revenue in nature.
How to receive TEC
If you’re eligible, you would have received your TEC payouts in the bank account that you registered with the CPF Board for CPF payments.
If you’re eligible but did not register your bank account with the CPF Board, you would have received the TEC payouts by cheque. You must encash your cheques within 6 months before they expire. All unencashed payouts would be forfeited.
MOM will not issue any TEC payouts after October 2018 as the scheme has closed.