Ministerial Salary Review
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tankee:
so do PM Lee and other long time ministers get to keep their pension?
Since PM Lee has accepted the recommendations, I would assume that current serving ministers will not have their pensions. Pensions will apply to those who have stepped down & served more than 8 yrs. -
Still sore about Mah Bow Tan keeping his pension when he is soooooo under performed.
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So Nathan exit at right time, got high salary and got to keep his pension......
Are u sure Nathan will be asked to \"return\" excess for the 3 months or so??? That will amount to $500k :yikes: -
tankee:
so do PM Lee and other long time ministers get to keep their pension?
I think they do cos they are existing ministers. My guess is they set a date e.g. those new ones who came onboard in May'11 are not entitled to. -
Ministers' pay-cut formula unveiled
Posted: 04 January 2012 1816 hrs
Photos 1 of 1
Gerard Ee (file photo)
Related News
• PM, ministers face pay cut of 36%-37%
• Govt intends to accept recommended wage cuts : PM Lee
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SINGAPORE: The proposed formula for a junior minister's pay will be the median income of the top 1,000 earners who are Singapore citizens.
A 40 per cent discount will then be applied, working the pay out to be S$1.1 million per year.
This was revealed on Wednesday by the Ministerial Salary Review Committee chairman Gerard Ee, who also elaborated on how the committee arrived at the formula and the impact on attracting talent.
Mr Ee said the figures were no \"magic numbers\".
\"It's something we looked at; we looked at different possibilities, and at the end of the day, we looked at the 1.1 million. Bear in mind, (it's) not necessary they're going to get 1.1 million,\" he said.
\"It's a fixed and variable portion. And we ask ourselves, and we know roughly the talent pool, I mean from the different walks of life that we have, we say, seriously, someone who is at their prime there, is it too little for them or not?
\"What's the impact (on) them to make a sacrifice? Don't forget, the financial sacrifice is one thing, but really to take office, you're talking about personal sacrifice about family and yourself.
\"So we have to take in all the different factors and say, is it a reasonable salary or not. But you're right, we debated, it could be 1.1 (million), it could be 1(million), it could be 1.2 (million), it could be 1.3 (million), but in the end, we felt 1.1 was a reasonable figure for a total wage package.
\"So no magic figure, based on the cumulated different experiences. If you look across the table, you have from employers, union, entrepreneurs, you have (BreadTalk founder and chairman) Mr George Quek, who operates locally and overseas.
\"And you say, look, seriously speaking, what would you pay in your own organisation for such a person?\"
Touching on the topic of the uphill task of attracting top private-sector talent, Ministerial Salary Review Committee member Wong Ngit Liong said: \"All Singaporeans expect the political leadership to be of outstanding calibre, outstanding quality, so definitely we want to have a super A team for the Singapore government leadership.
\"Of course, this cut is quite substantial, and some of us have some fear -- what would be the impact?
\"We all hope that the talent pool in Singapore would be such that there'll be people who view the importance of stepping forward and providing this service and commitment and contribution to the nation, and salary is not the only consideration.
\"I think this would be a real test, the leaders stepping forward will be those that are keen in making great contribution to the society and Singapore at large.\"
When asked if the prime minister should explain why the performance bonus was being decided for various ministers, Ministerial Salary Review Committee member Stephen Lee explained: \"The CEO should have the flexibility to establish KPIs (key performance indicators) for each department, and subsequently also change it from time to time.
\"So we really don't want to straitjacket the prime minister. And also, I'd like to say that the working of the Cabinet is that they each have their own ministry - that's one way to look at them.
\"Once a week, they sit together and they also discuss matters concerning the whole nation. And from time to time, this department has changed, right. So we feel that one way to look at them is the team result - the national bonus.
\"Another way is of course, your individual departments' performance. That one, we leave to the prime minister to set KPIs and evaluate the performance.
\"But the national performance, we think that the suggestion of median income and the lowest 20 per cent, this makes sense and we'd like to incorporate them into the KPIs to respond to all those who have given feedback.
\"Because it makes sense to the committee and it is quite logical to say that the ministers' pay, bonus can go up if Singaporeans -- especially the medium and lower 20 per cent -- are also doing better.\"
- CNA/wk
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1174756/1/.html -
When asked if the prime minister should explain why the performance bonus was being decided for various ministers, Ministerial Salary Review Committee member Stephen Lee explained: \"The CEO should have the flexibility to establish KPIs (key performance indicators) for each department, and subsequently also change it from time to time. \"So we really don't want to straitjacket the prime minister. And also, I'd like to say that the working of the Cabinet is that they each have their own ministry - that's one way to look at them.
\"Once a week, they sit together and they also discuss matters concerning the whole nation. And from time to time, this department has changed, right. So we feel that one way to look at them is the team result - the national bonus.
\"Another way is of course, your individual departments' performance. That one, we leave to the prime minister to set KPIs and evaluate the performance.
Performance bonus is the element that's subject to manipulation. It can be as much as 12-18 months. -
Today’s wanbao stated: maximum bonus is 14.5 months compared to 27.5 months previously
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The ministerial pay issue has been a major source of discontent for Singaporeans for a long long time, the other long time problem being the issue of "foreign talents".
Glad finally something is being done. Amazing that such policy mistakes can be rectified only when the ruling party loses a GRC(aljunied) in the recent elections. -
pinky:
Today's wanbao stated: maximum bonus is 14.5 months compared to 27.5 months previously
27.5 months ???? :faint: .........................................
I thought basic wage already one of the highest in the world ? it's not like the basic wage was low or even average........ :rant:
I think I need to talk to MY boss about performance bonus yardstick soon
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I am happy that the govt is doing something. To me, it demonstrates sincerity to change. I am willing to let bygones be bygones and look to the future with a government who has shown that it has enough moral fibre to rein itself in.
I like it that the KPI links are now more holistic… i.e. linked to a basket of KPIs, instead of just GDP. This is a way more professionally designed structure than the previous BUTCHER ALL TO GET GDP structure
I like also that they are open to the suggestion of linking politicians’ pay to median income and the lowest 20 per cent. This will better incentivise politicians to think of the common folk.
Rather than view the flexibility of setting KPIs at Ministry level as a liability that is open to abuse, I view it as just what it is. A flexible management tool that allows the Prime Minister to focus each Minister and each group of civil servants’ attention on issues of the moment that the Minister is likely to have picked up during his walkabouts. Ministers aren’t robots. You can’t strap them down and define everything. If the Minister is dishonest. Sack him. Put someone else there who will use the tool as it was meant to be used.
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