Activities Covered
MOM generally includes financial services, insurance, provident and pension funding, and supporting activities for financial services and insurance. Classification depends on the business activities rather than simply the company name.
MOM’s Illustrative List
The following list is illustrative and may not cover every financial-services activity.
| Business activity |
|---|
| Fund management |
| MAS-regulated holding companies, or holding companies connected with MAS-regulated firms |
| Insurance agents and brokers |
| Insurance and reinsurance underwriting |
| Monetary intermediation, including banks and finance companies |
| Provident and pension funding |
| Risk and damage evaluation |
| Securities and commodities exchanges |
| Security and commodity contracts brokerage |
| Trusts, funds and similar financial entities |
| Other financial services: financial leasing, credit granting, factoring, foreign-bank representative offices, money changing and remittance |
| Financial-service support: trustee, fiduciary and custody services; corporate-finance advice; clearing and settlement; transaction/payment processing |
| Insurance and pension support: foreign-insurer and professional-reinsurer representative offices, captive managers |
Apply the Classification to the Employer
For an Employment Pass eligibility check, start with what the employing business does. An employee's accounting or technology job title does not, by itself, answer the employer-sector question. Conversely, a generic company name does not establish that the business belongs outside financial services. The official list above concerns business activities and expressly leaves room for activities it does not name.
Review the categories before selecting a salary table. For example, MOM includes transaction and payment-processing services among activities supporting financial services. Looking only for the words “bank” or “insurance company” can therefore miss a relevant category. A business with mixed or unclear activities should seek clarification from MOM rather than treating the absence of its exact trading description as an exemption.
Then Check Salary and Application Timing
Once the sector is established, use the corresponding age row and effective-date column in MOM's EP qualifying salary tables. The financial-services and other-sector columns have different amounts. Then use the Self-Assessment Tool for the proposed application.
As a preparation step, keep a short explanation of the employer's activities with the eligibility review, noting any point referred to MOM. This is an internal planning aid, not a mandatory sector-certification document. It helps colleagues avoid selecting different salary tables for the same employer without an explanation.
Official Source
Written independently from official MOM source material.