MS Explains: S'pore political officeholders are getting a pay raise. How much exactly?
Lots of math.
Singapore's political officeholders will receive a pay raise following the acceptance of recommendations from an independent review committee, which had been in place for 15 years. The benchmark salary of an entry-level grade MR4 minister will rise from S$1.1 million to S$1.8 million. The government aims to make the financial hurdle less high for potential political candidates, such as senior civil servants and CEOs.
The new salary structure includes various components like the framework, ratios, salary range, and pay composition. The framework sets the benchmark salary based on the median income of the top 1,000 Singapore citizen earners, with a 40% discount applied to signify the spirit of public service. The ratios determine the salaries of other appointment holders, such as the Prime Minister, Deputy Prime Minister, and President.
Ministerial salaries consist of a 65% fixed pay and a 35% variable pay, which includes an annual variable component, individual performance bonus, and the National Bonus.
Written by urgent.news from Mothership's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
