Post GE 2011 Discussion
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my friend told me in corporate world, it may not be meritocracy, but able to be a tripod stand will open more doors for you... :rotflmao:
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Funx3:
Wow Fantastic Play With Words .... :rotflmao: :rotflmao:
liddat wehre got marriedtocrazy ?verykiasu2010:
[quote=\"Daddy D\"]TPL promoted? Really ah? Any confirmed source?
Don't think the main media will report on this...
Then again... if staff is a MP... no reason why the boss shld not promote the staff... and get some \"leverage\" on the MP status?
verykiasu2010, U Can Join the journalism way, anytime![/quote]妳太夸张了!我是废话连篇! -
verykiasu2010:
Funx3 is not 夸张。她在夸讲你. :laugh:
妳太夸张了!我是废话连篇!Funx3:
Wow Fantastic Play With Words .... :rotflmao: :rotflmao:
verykiasu2010, U Can Join the journalism way, anytime! -
Found another relevant site:
http://www.littlespeck.com/ -
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verykiasu2010:
must logical would be to revert to single member constituency for the 87 members .... [/quote]Har! TAN KOO KOO la.
Next time, they shld just separate cabinet MP from GRC MP... perhaps the poll results would be different...Daddy
[quote=\"dunnoleh\"]
they are leaving the cabinet, not retiring la. -
verykiasu2010:
For Marine Parade GRC, if it still remain the same GRC for GE 2016 and TPL still there, PAP will lose it
Ling Ling jia luct liao ....better faster go jog at the eastcoast parkway
to re-capture the Scene .......or will be lost forever
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verykiasu2010:
妳太夸张了!我是废话连篇![/quote]Not Really, U Too Modest -la!
Wow Fantastic Play With Words .... :rotflmao: :rotflmao:Funx3:
[quote=\"verykiasu2010\"]
liddat wehre got marriedtocrazy ?
verykiasu2010, U Can Join the journalism way, anytime!
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SM and MM stepping down from the cabinet should save some taxpayers money due to their salaries. Is SM Jayakumar also stepping down ?
Wonder what about all those ministers and senior ministers in PM office - what do they really take care of ? Can't we save those money as well ?
I cant wait to see PM's new cabinet - if he really listen to the ground, the Mas Selamat incident should lead to WKS also not involved anymore, imho.
btw, God help us all if http://www.youtube.com/watch?v=uJ7ZEGDC2oc thinks http://www.channelnewsasia.com/stories/singaporelocalnews/view/1125780/1/.html is a major priority over providing assistance to the many needy in the AMK GRC area. :sad: :sad: :sad:
[quote]PAP candidate for Ang Mo Kio GRC Inderjit Singh said residents should rate Members of Parliament (MPs) not just according to how well they speak in Parliament, but also focus on the work that gets done behind-the-scenes.
Mr Singh recalled how in the past he ensured every housing estate would have lift floor indicators.
He also asked PUB to provide every household with sandbags following the floods in July last year.
Mr Singh added that in future, Ang Mo Kio residents will also see a renovated park.
\"We are upgrading Bishan Park. In a few months, you (will) have a new river in Singapore, the newest river running along Bishan Park.
\"That is something that our residents in Ang Mo Kio will be enjoying.
\"And do you know how much this is going to cost? It's going to cost S$1.2 billion in the next five years - double what we spent in the last five years.
\"So the Ang Mo Kio team is committed to (making) Ang Mo Kio even better for all of our residents\".
Mr Inderjit Singh said the S$1.2 billion also covers the HDB and Town Council upgrading plans for the next five years. S$642 million was spent on the HDB and Town Council upgrading programmes in the past five years.[/quote] -
Subject: Pensions of our ministers
DO MINISTERS RECEIVE 50% OF THEIR LAST-DRAWN PAY FOR LIFE?
You friend is wrong about 50%. It is actually as high as 2/3rds. The Parliamentary Pensions Act provides that "office holders" (which means "Prime Minister, Deputy Prime Minister, Speaker, Senior Minister, Minister, Senior Minister of State, Minister of State, Mayor, Senior Parliamentary Secretary, Parliamentary Secretary or Political Secretary"). If you closed your eyes and threw a stone in Parliament House during a Parliamentary sitting - assuming if, and it is a big if, that everyone attends (which is never the case. Parliamentary sittings are lucky if 50% of MPs attend!) you will hit at least 1 or perhaps 2 with the stone ricocheting PAP chaps entitled to pensions.
Anyhow, back to your question. The Act has a formula for payment of the amount of pension. You start with a numerator of 8 (meaning 8 years of service as office holder) and add 1 for every year of service after that. You divide this number by a fixed denominator of 27, and you stop when the number hits 2/3rds, which means that anyone who has 18 years service will hit maximum pension. The amount that is due to him FOR LIFE is found at section 4:
4(2) The annual amount of pension payable to an office-holding Member shall be —
(a) in respect of every completed year of reckonable service in any office, or where he has served in more than one office in each office, at the rate of one-twenty-seventh (1/27) of his annual salary in that office; and
(b) in respect of any remaining uncompleted year of reckonable service in any office, or where he has served in more than one office in each office, at the rate of one-three-hundred and twenty-fourth (1/324) part of his annual salary for each completed month of reckonable service in that office.
(2A) The annual pension payable to any office-holding Member under subsection (2) shall not exceed two-thirds of the highest annual salary of any office held by him.
(3) Subject to sections 13 and 15, a pension granted under this section shall continue for the life of the person to whom it is payable but shall not be payable in respect of any period during which he is again an office-holding Member; at the end of that period the pension shall again be payable and shall be re-computed with the addition of that period to the period of his former reckonable service as an office-holding Member.
(4) For the purposes of subsections (2) and (2A), “annual salary”, in relation to any office, means the annual equivalent of the highest monthly rate of salary (excluding any non-pensionable allowances) received by an office-holding Member during any period of reckonable service as a holder of that office.
Astonishing, isn’t it that the pension is payable based on the "Highest annual salary of any office held by him" and "highest monthly rate of salary". So, it doesn’t matter that the MP was a low ranking parliamentary secretary for 17 years, and then became a multi-million $ minister for 1 year. His pension will be based on 2/3rds of his salary as a minister, as that is his highest annual salary of any office held by him. So, it also doesn’t matter that there are occasional reductions in salary during recessions, since their pension is based on their highest annual salary.
On this basis, SM / PM / MM will get 2/3rd x $3 million for the rest of their lives. I understand that if they are eligible for pension and they are still serving, they get both salary plus pension concurrently. (see section 5).
Or did I forget to tell you that pensions are exempt from income tax? This is stated in the Income Tax Act!
It gets better. The Act says that the pension can be commutated. This means that it is paid in 1 lump sum instead of monthly payments for life. The lump sum is equivalent to 175.14 months of pension, i.e. 14.6 years of pension. It doesn’t matter that the minister asks for it because he has terminal cancer and has 3 months to live. He will get 14.6 years of pension paid to him in 1 go, and it will be tax free. If MM’s pension is based on 2.5 million (conservative estimate), his commutated pension is $36.5 million. Can buy a GCB with it, without any bank loan!
This is a real scandal. I was horrified when Goh Chok Tong proposed recently that ministers serve 8 years only, and new ones come in. It means that the pool of multi-million dollar pension earners will get bigger and bigger! It will add to the financial burden of future generations of Singaporeans having to pay for the pensions of people who have already been paid too much during their terms of office.
Who in the private sector is entitled to pension? And yet the ministers, etc are collecting tax free pensions on top of their world’s highest salaries. Now you know why George Yeo is fighting so hard to keep his job as minister.
Incidentally, all Admin Service officers, Sr Police & Military Officers and High Court Judges are still entitled to pensions in the same manner. No one else in the Civil Service gets pensions.
Best Regards"
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Received the above text fr my fren.
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