Laid of on an EP. Considerations on PEP and PR
Posted: Sat, 09 Mar 2024 12:21 pm
Dear all,
This is my first post but I have been getting a lot of useful insights from the forum since I moved to Singapore 2+ years ago. Thanks everyone for that.
I was notified towards the end of January 2024 that I am laid off, and am currently serving my 3-month notice until end of April 2024. To give myself more time to find a job, I applied for a PEP and I received the in-principle approval which I would need to activate by August 2024. Prior to that, I also applied for PR in May 2023 and the application has been pending since then (I.e. 10 months ago)
My two questions which I hope you can help with:
1) My current salary is above the PEP threshold of S$22.5k/ month, but I am uncertain whether my next job can meet this mark. While I would have the freedom to go for any job I want with a PEP without company sponsorship, when exactly would my PEP be cancelled knowing the new salary might not qualify? I note that salary reporting for PEP is done on an annual basis in each January. It also goes without saying the best is to find a company that can support an EP or a job with qualifying salary.
2) When should I activate my PEP so that my PR application can continue to be considered? I understand in the usual case of an EP holder, the PR application will be withdrawn within one month after EP termination. What is unclear is whether switching to PEP (either from EP or from the short-term pass after EP) will allow the PR application continue to be considered. I do understand the additional risk / negativity for being laid off during the application but just thought it would be useful for the application review to continue.
Some additional colours of my self: 33 y/o Taiwanese guy working in banking, single, salary slightly above the PEP requirement of S$270k/year
Thank you all in advance
This is my first post but I have been getting a lot of useful insights from the forum since I moved to Singapore 2+ years ago. Thanks everyone for that.
I was notified towards the end of January 2024 that I am laid off, and am currently serving my 3-month notice until end of April 2024. To give myself more time to find a job, I applied for a PEP and I received the in-principle approval which I would need to activate by August 2024. Prior to that, I also applied for PR in May 2023 and the application has been pending since then (I.e. 10 months ago)
My two questions which I hope you can help with:
1) My current salary is above the PEP threshold of S$22.5k/ month, but I am uncertain whether my next job can meet this mark. While I would have the freedom to go for any job I want with a PEP without company sponsorship, when exactly would my PEP be cancelled knowing the new salary might not qualify? I note that salary reporting for PEP is done on an annual basis in each January. It also goes without saying the best is to find a company that can support an EP or a job with qualifying salary.
2) When should I activate my PEP so that my PR application can continue to be considered? I understand in the usual case of an EP holder, the PR application will be withdrawn within one month after EP termination. What is unclear is whether switching to PEP (either from EP or from the short-term pass after EP) will allow the PR application continue to be considered. I do understand the additional risk / negativity for being laid off during the application but just thought it would be useful for the application review to continue.
Some additional colours of my self: 33 y/o Taiwanese guy working in banking, single, salary slightly above the PEP requirement of S$270k/year
Thank you all in advance