But then hor, the report mention the third phase of their salary revision to kick in at end year.
Does that mean they so heng. No bonus but got huge increment. NET-NET WIN
Civil service salaries may be revised
Those in senior positions may be affected by slowed economic growth
Friday • October 24, 2008
The Public Service Division (PSD) may revise civil service salaries in light of the turmoil in the financial markets and lower growth forecasts for Singapore, the first Asian economy to slip into a technical recession.
In response to media queries, the PSD said it is compiling salary data in the private sector and “will need some time” to study the salary trends before coming to a decision.
Regardless, annual pay for senior civil servants and Government leaders will be affected by the slower growth this year, which is now projected to be three per cent.
A “significant” part of their annual pay is linked to the GDP growth rate and structured as a GDP bonus, said the PSD, which comes under the Prime Minister’s Office.
The norm payment for Senior Permanent Secretaries and Ministers is set on a linear scale with zero bonus if the economy grows by two per cent or less and an eight-month bonus if the economy grows by at least 10 per cent.
The GDP bonus formed close to 20 per cent of the typical annual salary last year of these senior public officials, based on the annual growth of 7.7 per cent and after civil service salaries were revised.
A third and final phase of the salary revisions is scheduled to take effect by the end of this year, to bring the salaries of this group to 88 per cent of the benchmark pegged to the private sector.
The PSD noted yesterday that civil service salaries are “reviewed and revised regularly” to keep in line with the private sector.
Other countries, too, have reviewed civil service salaries in light of the economic situation. Earlier this month, Ireland unveiled budget plans that include a 10-per cent pay cut for government ministers and senior civil servants. Ireland was the first eurozone country to fall into a recession.
Does that mean they so heng. No bonus but got huge increment. NET-NET WIN
Civil service salaries may be revised
Those in senior positions may be affected by slowed economic growth
Friday • October 24, 2008
The Public Service Division (PSD) may revise civil service salaries in light of the turmoil in the financial markets and lower growth forecasts for Singapore, the first Asian economy to slip into a technical recession.
In response to media queries, the PSD said it is compiling salary data in the private sector and “will need some time” to study the salary trends before coming to a decision.
Regardless, annual pay for senior civil servants and Government leaders will be affected by the slower growth this year, which is now projected to be three per cent.
A “significant” part of their annual pay is linked to the GDP growth rate and structured as a GDP bonus, said the PSD, which comes under the Prime Minister’s Office.
The norm payment for Senior Permanent Secretaries and Ministers is set on a linear scale with zero bonus if the economy grows by two per cent or less and an eight-month bonus if the economy grows by at least 10 per cent.
The GDP bonus formed close to 20 per cent of the typical annual salary last year of these senior public officials, based on the annual growth of 7.7 per cent and after civil service salaries were revised.
A third and final phase of the salary revisions is scheduled to take effect by the end of this year, to bring the salaries of this group to 88 per cent of the benchmark pegged to the private sector.
The PSD noted yesterday that civil service salaries are “reviewed and revised regularly” to keep in line with the private sector.
Other countries, too, have reviewed civil service salaries in light of the economic situation. Earlier this month, Ireland unveiled budget plans that include a 10-per cent pay cut for government ministers and senior civil servants. Ireland was the first eurozone country to fall into a recession.
