23 Nov '11, 7pm

Civil service bonus details out soon: report - Yahoo! via @yahoosg

Singapore’s 76,000 civil servants will get a total of 1.75 months end-of-year bonus this year, said the Public Service Division (PSD) on Thursday. The payout comprises of the 13th-month payment and an additional 0.75 month payout. The latter, the annual variable component (AVC), was decided after the PSD took into account the 5.4 per cent economic growth in the first three quarters of 2011 and the overall growth forecast for the year, said PSD in a statement. The news comes amid a gloomy global economic outlook, with Singapore predicting sharply lower economic growth of around 5 per cent this year and a further slowdown to between 1 and 3 per cent next year. “Near-term growth could be affected by easing global demand and heightened economic and financial uncertainties especially due to the Eurozone debt crisis and sluggish growth in the advanced economies,” noted PSD. Unli...

Full article: http://sg.news.yahoo.com/civil-service-bonus-details-out-...

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