12 Jan '12, 2am

Ministerial pay review report misunderstood, says Committee

SINGAPORE: The committee to review ministerial salaries has clarified that the recommended S$1.1 million annual salary for entry-level ministers includes basic pay and bonuses amounting to seven months. In its blog post, the committee said it assumes a one-month annual variable component, a three-month performance bonus and a three-month National Bonus. Without bonuses, the basic pay is 13 months, totalling S$715,000. It made this and several other clarifications in a post on its official blog on January 11. It said several aspects of its report have been misunderstood or not clearly understood. The committee also explained why its proposed wage benchmark links ministerial pay to the salaries of 1,000 top Singaporean earners. It said this was to reflect "the level of talent it hopes to attract and the need to pay competitive salaries to minimise the opportunity cost for th...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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