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GDP Slumps but Political Office Holders Receive Top-Notch 4 Months Performance Bonuses

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Prime Minister Lee Hsien Loong revealed in parliament today that the political office holders received an average of 4.4 months performance bonus a year in the last 5 years.

In a written parliamentary response to a question by Workers’ Party MP Leon Perera, Mr Lee said that the amount of performance bonus received by individual political officer holders ranged from 3 to 6 months bonus.

Political office holders include parliamentary secretaries, ministers of state and Cabinet ministers.

In comparison, top performers in the civil service about 3 months

Besides performance bonus, political office holders also receive bonuses in the form of an Annual Variable Component, National Bonus and 13th Month Bonus.

A Cabinet Minister of the lowest pay-grade (MR4) earns about S$1.1 million a year, while the Prime Minister earns about S$2.2 million a year.

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The performance bonus revelation comes as a shock considering Singapore’s uninspiring economic growth in the past 5 years, according to data from the World Bank.

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Singapore is presently facing space and workforce constraint growth constraints, and rising inequality.

The Singapore government has apparently faltered in implementing innovative economic policies, while its centralised and paternalistic approach has not succeeded in creating a level playing field in the private sector.

Last month, the issue of ministerial salaries sparked anger among Singaporeans after Emeritus Senior Minister Goh Chok Tong that ministers are not paid enough.

 

 

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