May 28, 2010
Bigger mid-year bonus
<!-- by line --> By Sue-Ann Chia, Senior Political Correspondent
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Civil servants' annual salaries last year fell by between 8 per cent and 22 per cent, with top earners seeing the steepest drop, as bonuses were cut. The shrink in salary was the biggest in five years. -- ST PHOTO: DESMOND FOO
<!-- story content : start --> CIVIL servants will receive in July one of the biggest mid-year bonuses given in the past five years. They will get half a month's salary plus a one-off payment of $300. It is a big leap from last year when no mid-year payment was given owing to the recession. It also exceeds past years' payouts which tend to be half a month's pay, but with a lower fixed dollar amount. The exception was in 2008, when the fixed dollar amount ranged from $100 to $300.
The latest move by the Government, Singapore's biggest employer, was welcomed by the labour movement and the Singapore National Employers Federation saw it as a good signal to well-performing companies. The Government, in announcing the mid-year bonus yesterday, said Singapore's economic recovery is stronger than expected this year. Also, signs indicate the recovery has strengthened and is broad-based, although 'downside risks such as the sovereign debt crisis in Europe still remain', said the Public Service Division (PSD).
Read the full story in Friday's edition of The Straits Times.
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