06 Jan '12, 2am

Salary.sg - Your Salary in Singapore

PM Lee will get a 36% salary cut and receive an annual pay of $2.2m without pension, down from the previous pay package of $3.07m + pension. This is the recommendation given in the Committee to Review Ministerial Salaries Report . The ministerial pay review took more than 7 months to complete. PM Lee’s new base monthly salary will be $110,000, which is what President Tony Tan will receive monthly as well. But President Tan will only get 14 months total per year (12 months base + 13th month bonus + Annual Variable Component), without any Performance Bonus or National Bonus . This gives a total of $1.54m for President Tan. The annual salary for ministers will use this formula: Fixed pay (13 months) + up to 1.5 months AVC + up to 6 months’ PB + up to 6 months’ National Bonus. A junior minister at the MR4 grade will get a minimum of $715k and a maximum of $1.46m in a year. His...

Full article: http://www.salary.sg/

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