25 Nov '14, 9am

Civil servants are getting 1.8 months of bonus this year end. Hence, total bonus for this year is 2.3 months....

Civil servants are getting 1.8 months of bonus this year end. Hence, total bonus for this year is 2.3 months....

~ All civil servants will get a total of 1.8 months of bonus at this year end, according to this PSD press release . This bonus consists of the standard one-month NPAA (which is commonly called the “13th month bonus”) and 0.8 month of AVC. The acronym NPAA stands for “Non-Pensionable Annual Allowance”, while AVC stands for “Annual Variable Component”. If you include this year’s mid-year bonus of 0.5 month, civil servants are getting a grand total bonus of 2.3 months this year. This is 0.2 month less than last year’s grand total bonus of 2.5 months . Just like last year, this year’s bonus also has a minimum AVC payment, but set at a lower level of $1,200. “For example, an officer earning a monthly salary of $1,200 will get a year-end AVC of $1,200. This is $240 more than what he would get at 0.8 month of his monthly salary (which would have been $960).” This entry was poste...

Full article: http://www.salary.sg/2014/civil-service-bonus-end-2014/

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