Shin Min Daily: "Huge" pay cuts expected for President and Cabinet Ministers

[Rogue Trader]

Huge pay cuts expected for President and Cabinet Ministers

According to the Shin Min Daily today, the report for the ministerial pay review committee will be out latest by next month.

The paper reported that huge pay cuts are expected for president and cabinet ministers, while junior ministers may see pay slashed by up to a third.

In an interview, Mr Gerard Ee, the chairman of the National Kidney Foundation and Changi General Hospital, affirmed that the report will be out next month, but declined to comment further.

On may 21 this year, Prime Minister Lee Hsien Loong had announced the appointment of Mr Ee to head a task force to review ministerial pay during his speech at the swearing-in ceremony of Cabinet Ministers and office bearers at the Istana.

 

[no_faith]

this is fiction report.

 

[red amoeba]

huge paycut huh?

but all will be rewarded with 10 - 20% more bonus no?

cut pay by 30% but rewarded with 20% more bonus....no effect right?

do i hear GST will be raised soon?

 

[aangsc]

Quite sure pay cut isn't the full story, could they repackage into somewhere else in their benefits so it does not form part of the review salary ?
Are we likely to see the truth nothing but the truth ? I seriously doubt.

 

[Unrepented]

Please define "Pay" in the context of the review.

 

[zeddy]

It's All WAYANG..!!!

 

[red amoeba]

asset got tangible and intangible.

likewise pay...

or remuneration they call it...cut the tangible but raise the intangible / indirect...LOL..so easy...

 

[melzp]

The FAILURE of lucrative pay to curb corruption; instead it
is the lure of GREED to serve oneself and raiding the Reserves.

Now in this times of Depression, they feel the SHAME coz there
is nothing they can do in this globe.

 

[HedgeTrader]

Wait Lim Swee Say dont feel so rich how LOL

 

[kopiuncle]

massive pay cuts. huge pay reduction. gigantic salary revision. does it matter to me? damned...i still lim my kopi as long as it does not go up in price!!!..gave our leaders billions lah!!! money no enough!!!

 

[middaydog]

i... ...resign

 

[GoldenDragon]

No point having huge pay cuts now. Many benefitted in the past. Are they going to return their money? Even if true huge pay cuts, let's be cautious. The 'cuts' can be returned in other ways.

 

[Ramseth]

No point having huge pay cuts now. Many benefitted in the past. Are they going to return their money? Even if true huge pay cuts, let's be cautious. The 'cuts' can be returned in other ways.

Why does it take one year to study about ministerial paycuts but just one hour to announce ministerial payrises in Parliament with resounding echoes of aye, aye.

 

[po2wq]

i... ...resign

... from botak men's club? ...

 

[Kohliantye]

Just wait for the full Gerard Ee Report. If what Shin Min foresee is true then many of them in the Party would all stand up and cry in unison just like their unanimous Aye Aye (Want Want in Hokkien). However this time their unanimous cry will be as follows: PAP SIR or Payments Are Poor, So I Resign

 

[NoNewsGood]

Pay cut, but 100x increase in transport allowance, 100x increase in food allowance, etc...

 

[Rogue Trader]

When they benchmarked salary levels to the private sector in 2007, they implemented it very quickly.

Since the GFC, executive pay is one of the hottest issues in the corporate world. US, EU and Australia have all reviewed the ruling for agency cost structures.

Only PAP is dragging this on and on. So where's the benchmarking to private sector when it comes to this??

Taken from http://www.aflcio.org/corporatewatch/paywatch/

Why CEO Pay Matters

Out-of-whack CEO pay feeds the 1% and starves the 99%.​

While CEO pay soars…

U.S. Census Bureau, Selected Measures of Household Income Dispersion.​

…median income falls…

Emmanuel Saez, U.C. Berkeley Department of Economics.​

…the richest get richer…

Emmanuel Saez, U.C. Berkeley Department of Economics.​

…and it starts looking a lot like 1929.

 

[Cestbon]

Even with 30% cut Singapore PM salary can cover top 5 leader salary in the world.

 

[hairylee]

Even with 30% cut Singapore PM salary can cover top 5 leader salary in the world.

They will be compensated in many other "Leegal" ways.

 

[johnny333]

Pay cut, but 100x increase in transport allowance, 100x increase in food allowance, etc...

The PAP tries to hide their salary increase by hiding behind plates of kway teow I suspect they will try to muddy up the issue by including more food groups.