So even with our worse recession in recent times, they still pack in their millions.
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The Straits Times
www.straitstimes.com
Singapore
Home > Breaking News > Singapore > Story
Nov 26, 2009
22% less pay for top officers
THE annual take home pay of top civil servants will fall by up to 22 per cent this year as they will not be getting the annual annual variable component (AVC) or GDP bonus, with the Singapore economy just emerging from its worst recession.
The Public Service Division (PSD) on Thursday also announced that the salary adjustments for Administrative Officers, political, judicial and statutory appointment holders will continue to be put on hold.
The third phase of these adjustments, due in January this year, was deferred as a result of the recession. The first two adjustments were made in April 2007 and January 2008.
PSD said the annual salary for the ministerial grade (MR4) will fall by 22 per cent to $1.49 million, and that for the entry Superscale grade (SR9) will fall by 15 per cent to $338,100.
It said the MR4 salary benchmark for the Year of Assessment 2009 has fallen by 6 per cent to $2.86 million compared to the previous year, while the SR9 salary benchmark has remained stable at $420,000.
'The 2009 MR4 salary is now 57 per cent of the Year of Assessment 2009 MR4 benchmark, while the 2009 SR9 salary is 81 per cent of the YA2009 SR9 benchmark,' it added.
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The Straits Times
www.straitstimes.com
Singapore
Home > Breaking News > Singapore > Story
Nov 26, 2009
22% less pay for top officers
THE annual take home pay of top civil servants will fall by up to 22 per cent this year as they will not be getting the annual annual variable component (AVC) or GDP bonus, with the Singapore economy just emerging from its worst recession.
The Public Service Division (PSD) on Thursday also announced that the salary adjustments for Administrative Officers, political, judicial and statutory appointment holders will continue to be put on hold.
The third phase of these adjustments, due in January this year, was deferred as a result of the recession. The first two adjustments were made in April 2007 and January 2008.
PSD said the annual salary for the ministerial grade (MR4) will fall by 22 per cent to $1.49 million, and that for the entry Superscale grade (SR9) will fall by 15 per cent to $338,100.
It said the MR4 salary benchmark for the Year of Assessment 2009 has fallen by 6 per cent to $2.86 million compared to the previous year, while the SR9 salary benchmark has remained stable at $420,000.
'The 2009 MR4 salary is now 57 per cent of the Year of Assessment 2009 MR4 benchmark, while the 2009 SR9 salary is 81 per cent of the YA2009 SR9 benchmark,' it added.
