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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_607250.html
Nov 25, 2010
CIVIL SERVICE YEAR-END BONUS PAYOUT
Don't need to match bonuses
By Amanda Tan
Mr Lim said that the feedback from unions and companies is that they are likely to pay on average of half a month more in year-end bonus. -- ST PHOTO: ALPHONSUS CHERN
COMPANIES will not be pushed to pay the 3 1/2-month bonus that civil servants will get this year, said labour chief Lim Swee Say on Thursday.
This is because performances vary across different industries and companies.
'It depends firstly on how much total bonus came down last year, and how strong the rebound is this year,' he told reporters on the sidelines of a Learning Journey event at Sakae Holdings.
Still, Mr Lim said that the feedback from unions and companies is that they are likely to pay on average of half a month more in year-end bonus.
Mr Lim explained that as most companies are doing better this year, wages have also gone up.
'In some cases, they are restoring the monthly variable component because some cut it during the downturn. So the first thing they are doing now is to restore it. Others are paid higher bonuses,' said the NTUC's Secretary-General.
The bonus payout for civil servants announced on Wednesday is the biggest since 1993. Some 74,000 civil servants will get a two-month bonus at the end of the year, in addition to the $300 and half a month bonus paid out in July. Good performers also stand to get a special variable payment of at least one month in March.
Nov 25, 2010
CIVIL SERVICE YEAR-END BONUS PAYOUT
Don't need to match bonuses
By Amanda Tan
Mr Lim said that the feedback from unions and companies is that they are likely to pay on average of half a month more in year-end bonus. -- ST PHOTO: ALPHONSUS CHERN
COMPANIES will not be pushed to pay the 3 1/2-month bonus that civil servants will get this year, said labour chief Lim Swee Say on Thursday.
This is because performances vary across different industries and companies.
'It depends firstly on how much total bonus came down last year, and how strong the rebound is this year,' he told reporters on the sidelines of a Learning Journey event at Sakae Holdings.
Still, Mr Lim said that the feedback from unions and companies is that they are likely to pay on average of half a month more in year-end bonus.
Mr Lim explained that as most companies are doing better this year, wages have also gone up.
'In some cases, they are restoring the monthly variable component because some cut it during the downturn. So the first thing they are doing now is to restore it. Others are paid higher bonuses,' said the NTUC's Secretary-General.
The bonus payout for civil servants announced on Wednesday is the biggest since 1993. Some 74,000 civil servants will get a two-month bonus at the end of the year, in addition to the $300 and half a month bonus paid out in July. Good performers also stand to get a special variable payment of at least one month in March.
