No more pension for ministers and presidents

[makapaaa]

[h=2]No more pension for ministers and presidents[/h]Posted by temasektimes on September 10, 2012


Existing and former ministers and presidents are no longer entitled to a lifelong pension, following the abolishment of teh Parliamentary Pensions Act today.

The move came after a review of ministerial salaries which recommended that the pension scheme be scrapped for office holders and Members of Parliament (MPs).

Under the Parliamentary Pensions Act, political office holders who have served at least eight years are eligible for a pension.

However, from now onward, office holders appointed on and after 21 May 2011, when the new government took office, will not receive any pension.
Those appointed before 21 May will have their pensions frozen and be eligible only for pensions accrued up to 20 May 2011.

Besides former ministers, former presidents can no longer receive pension with the passing of the Civil List Pension Amendment Bill, which paves the way for the pension scheme to be scrapped for former presidents.

The Constitution has provided for a pension to be given to a former president, at a sum to be decided by Parliament.

 

[oppoibchief]

earn so much still want pension...can bring to hell or not? or let their sons and daughters gamble away ah!

 

[oppoibchief]

also the lau lee, lau goh, lau wong, lau mah still entitled leh...

 

[Cestbon]

earn so much still want pension...can bring to hell or not? or let their sons and daughters gamble away ah!

I have being hot topic for last 10 year. Why need pension?.
Just convert to CPF if gov said CPF is good.
That save tax payer lot of money.

 

[hairylee]

They already earn millions a year. Basically all expenses are paid and I believe even their childrens studies are also on scholarship.
Their children career are basically also assured; just look at the number of MPs now whose father also MPs before.
All these blood suckers.

 

[Jlokta]

Siao liao, get ready for another round of GST increase and pay raise for these chiak liao bees.

 

[BuiKia]

They should have scrap it then when they did it away for the cvil service decades ago.