from wiki:-
Remuneration and pensions
MPs receive a monthly allowance,[86]
a non-pensionable annual allowance (commonly known as the 13th
month pay), and an annual variable component that is paid in July
and December each year.[87]
The monthly allowance is 56% of the salary of an Administrative
Service officer at the SR9 grade – the entry grade for Singapore's
top civil servants – which is itself benchmarked at the salary of
the 15th person aged 32 years from six professions: banking, law,
engineering, accountancy, multinational companies and local
manufacturers. In 1995, the monthly allowance was S$8,375 ($100,500
per year).[88]
The allowance was revised in 2000 to $11,900 ($142,800 per
year).[89]
In 2007 it was announced that civil service salaries had lagged
behind those in the private sector and required revision. MPs'
salaries were therefore increased in phases. In 2007 the monthly
allowance was revised to $13,200, raising the annual sum to
$158,400. A gross
domestic product (GDP) bonus payable to civil
servants was also extended to MPs to link their annual remuneration
to the state of the economy. They would receive no
bonus if GDP growth was 2% or less, one month's bonus if the GDP
grew at 5%, and up to two months' bonus if the GDP growth reached
or exceeded 8%. MPs' allowances to engage legislative and
secretarial assistants were also increased from $1,000 to $1,300
and from $350 to $500 respectively.[88]
With effect from January 2008, each MP received another increase of
his or her allowance package to $13,710 a month, bringing it to
$225,000 per year.[90]
Persons who have reached the age of 50 years and retired as MPs
and who have served in this capacity for not less than nine years
may be granted a pension for the rest of their
lives. The annual amount payable is 1⁄30
of the person's highest annual salary for every completed year of
service and 1⁄360 for every uncompleted
year, up to a ceiling of two-thirds of the Member's annual
salary.[91]
No person has an absolute right to compensation for past services
or to any pension or gratuity, and the President may reduce or
withhold pensions and gratuities upon an MP's conviction for
corruption.[92]
