Illegal pensions for PAP? #sgelections #sgelection #sgpolitics

In a desperate attempt to explain the PAP’s pension scheme for its retired ministers which has been making waves in cyberspace, DPM Teo Chee Hean unwittingly revealed the shocking fact that PAP ministers start collect their multi-million dollar pension at the age of 55,even if they still remain in office. Under the Parliamentary Pensions Act (PPA), political office-holders ranging from parliamentary secretaries to the Prime Minister,including the Speaker of Parliament, are eligible to receive pensions from the state, as long as they have served for a minimum of eight years and are at least aged 50 when they step down. For every completed year of service, the annual pension amount is raised by 1/27 of the ‘pensionable component’ of his salary. The final ratio, however, must not exceed two-thirds. This means that after 18 years of service, the final ratio used to compute a m...

Full article: http://singaporeelection.blogspot.com/2011/05/illegal-pen...

Tweets

The new PAP vs The old PAP #sgelections

MM and SM's stepping down is a first move to placate angry Singaporeans. I am grateful to LKY's generation for bringing Si...

Ministers' pensions: How they're paid

Ministers' pensions: How they're paid

channelnewsasia.com 13 May '11, 10pm

SINGAPORE: When a Cabinet minister retires, the maximum annual pension he is entitled to would be about 10 per cent of his...

Clearing the air on pensions Gahmen gobbledygoo...

todayonline.com 14 May '11, 1am

WE WISH to make this clarification about pensions of political office holders. The points below are already on the public ...

Restaurant serving #dogmeat: Authorities invest...

singaporeseen.stomp.com.sg 10 May '11, 11am

The AVA (Agri-Food and Veterinary Authority) has taken samples from the Chinese restaurant in Jurong East which apparently...