What are the main new changes to Personalised Employment Pass (PEP) which takes effects from 1/12/2012?

From 1 Dec 2012 onwards, all P1 Pass holders who earn a fixed monthly salary of at least $12,000 and overseas-based foreign professionals whose last drawn fixed monthly salary was at least $18,000 will be eligible for the PEP. For overseas-based foreign professionals, they should not have been unemployed for longer than a continuous period of 6 months at the point of application.

Correspondingly, the minimum annual fixed salary requirement will be increased to $144,000.

The period of validity of the PEP will be reduced to 3 years.

New PEP holders can bring in their parents, spouses and children, similar to the dependant privileges that are accorded to P1 Pass holders.