Singapore’s ministers will receive less pay this year with Singapore just emerging from one of its worse recessions in recent years. Even after the wage reduction, their salaries are still among the highest in the world.
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.
Salary adjustments for administrative Officers, political, judicial and statutory appointment holders to benchmark their salaries to the private sector will also be put on hold, according to a statment from the Public Service Department.
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.
The annual salary of U.S. President Barack Obama is about US$400,000 or SG$562,000.
Singapore leaders have always claimed that they deserve to be pay high salaries because they are the “best talents” in the country and many have taken a “pay cut” to join the government.
However, it is unlikely that some of the ministers are able to earn their present salaries if they return to their original jobs before joining politics.
Minister of Environment Dr Yaacob Ibrahim was a professor before he stood in the elections. He probably earns between $10,000 -$15,000 a month at the most.
MM Lee Kuan Yew claimed that he would be able to earn more than what he is earning now in the private sector.
Lee is Singapore’s first Prime Minister from 1965 – 1990 after which he was “appointed” as the Senior Minister. He became the Minister Mentor in 2003 after his son Lee Hsien Loong took over the position of Prime Minister from his precedessor Goh Chok Tong.
The Prime Minister’s Office has one Minister Mentor, two Senior Ministers, two Deputy Prime Ministers and two Ministers without portfolios.
It is not known if the elder Lee who will be 87 years old next year, will continue to stand as a MP in the next general election due by 2011.
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.
Salary adjustments for administrative Officers, political, judicial and statutory appointment holders to benchmark their salaries to the private sector will also be put on hold, according to a statment from the Public Service Department.
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.
The annual salary of U.S. President Barack Obama is about US$400,000 or SG$562,000.
Singapore leaders have always claimed that they deserve to be pay high salaries because they are the “best talents” in the country and many have taken a “pay cut” to join the government.
However, it is unlikely that some of the ministers are able to earn their present salaries if they return to their original jobs before joining politics.
Minister of Environment Dr Yaacob Ibrahim was a professor before he stood in the elections. He probably earns between $10,000 -$15,000 a month at the most.
MM Lee Kuan Yew claimed that he would be able to earn more than what he is earning now in the private sector.
Lee is Singapore’s first Prime Minister from 1965 – 1990 after which he was “appointed” as the Senior Minister. He became the Minister Mentor in 2003 after his son Lee Hsien Loong took over the position of Prime Minister from his precedessor Goh Chok Tong.
The Prime Minister’s Office has one Minister Mentor, two Senior Ministers, two Deputy Prime Ministers and two Ministers without portfolios.
It is not known if the elder Lee who will be 87 years old next year, will continue to stand as a MP in the next general election due by 2011.
