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SG Committee Recommends Pay Cut 4 Political Leader
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nickyng
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04-Jan-2012 15:07
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pls lah..it is those in the " mgt" level a.k.a cabinet ministes and their deputies like the Ministery secretary sucking out all the fat pays...those working in the lower rank and file...not much to be cut...athough I must agree that civil servants especially those in executive levels..their pay is quite out of proportion with mkt pay :)
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Isolator
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04-Jan-2012 14:52
Yells: "STI is hard landing to below 2000..." |
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How about those in GLC, GIC, Temasek, civil servant, etc??? lol | ||
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nickyng
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04-Jan-2012 14:48
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DJ Singapore Committee Recommends Pay Cuts For Political Leaders
Dow Jones Newswires | 04 Jan 2012 12:10pm
SINGAPORE (Dow Jones)--A Singapore government-appointed committee has recommended sizeable pay cuts for the city-state's political leaders including the prime minister, government ministers and lawmakers. Prime Minister Lee Hsien Loong could take a 28% cut to his annual salary, reducing it to S$2.2 million, while junior government ministers might see their yearly pay reduced by 31% to S$1.1 million, according to a report published Wednesday by the committee. President Tony Tan--who holds a mostly ceremonial post--may see his annual salary slashed by 51% to S$1.54 million, the report said, adding that most elected lawmakers could take a 3% cut, reducing their yearly wages to S$192,500. Singapore government leaders are among the best paid globally, a fact that has stirred public disquiet in recent years. High ministerial salaries and rising income inequality, among other issues, contributed to the ruling People's Action Party taking in the May 2011 general election its narrowest victory since Singapore became a nation in 1965. In response, Prime Minister Lee set up the committee weeks after the elections to review political salaries, and said the government will base new salaries on its recommendations. The committee also suggested changes to pay structures for elected officials and certain political appointees, which include adjusting the formulae for calculating ministerial pay and bonuses, and removing certain pensions and allowances currently granted to ministers. Parliament will debate the report's findings later this month. If accepted, the new pay structures will be backdated to May 21, 2011, although Singapore's government leaders will still rank among the highest paid world-wide. -By Chun Han Wong, Dow Jones Newswires +65 64154 160 chunhan.wong@dowjones.com |
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