The National Wages Council (NWC) has recommended a one-off special lump sum payment to employees to help them cope with rising costs. The council also recommended a wage increase of 5.5 percent to 7.5 percent for lower-wage workers.
The NWC made the recommendations in its wage guidelines for December 2023 to November 2024. The guidelines are based on the council’s assessment of the economic outlook and the need to ensure that wages are fair and sustainable.
The NWC said that the lump sum payment should be given to all employees, with a heavier weight for lower-wage and middle-income workers. The council said that the payment should be given in addition to any regular wage increases that employers may be giving.
These recommendations are not binding, but they are generally followed by employers. The government also supports the recommendations.
