BENEFIT CALCULATOR (SIP) - VERSION 2
Benefits are calculated based on your previous assumed salary and your Contributions Qualifying Conditions (CQC) i.e. the number of monthly contributions you have paid before. Please refer to the following table for more information.
Assumed Wage : |
(enter an amount) |
Average Assumed Wage : |
- (average of 6 months' wages before LOE date) |
No. of Training Day(s) : |
(if relevant) |
Training Allowance (25%) : |
- |
| Month No. | Benefits Rate | JSA  |
ERA 3 (25% of JSA) |
ERA 4 (25% of JSA) |
ERA 5 (25% of JSA) |
ERA 6 (25% of JSA) |
RIA |
| 1 | 80% | ||||||
| 2 | 50% | ||||||
| 3 | 40% | ||||||
| 4 | 40% | ||||||
| 5 | 30% | ||||||
| 6 | 30% |
* Note: The LOE covers the types of job losses as per the following table:
ELIGIBLE |
NOT ELIGIBLE |
| Normal retrenchment and redundancy | Employee misconduct |
| VSS/MSS (Voluntary/Mutual Separation Scheme) | Voluntary resignation |
| Closure of the company due to natural disasters | Retirement |
| Bankruptcy or closure of the company | Expiry of fixed-term contract/project completion |
| Constructive dismissal | |
| Downsizing | |
| Resignation (sexual harrasment/threats) / Ordered to perform dangerous duties that are not within the job scope |
Reminder
- The benefits calculator utilizes a generic formula based on the mean average wage and benefit payment rates.
- The average assumed wage is calculated by averaging 6 months' wages before the LOE date.
- The total amount payable depends on the type of benefit one is eligible to receive, example: JSA No 1.
- The total amount payable depends on the monthly contribution amount, the number of monthly contributions, and the type of benefits one is eligible for.