S'pore's ministers pay "lags behind private sector benchmark

last SG · 2006-11-29T17:37:13+00:00

Don't be an investment idiot!!! There's no one in this world would ask someone else to come and make money from me or us. No one in this world will build or...

BillyBong SG

Singapore's ministers' salaries are pegged to private sector rates, but they are currently lagging behind the benchmark, said Senior Minister Goh Chok Tong.

The existing salaries are at 50 per cent of the benchmark, when they should actually be at the two-third mark, SM Goh told the Singapore media at the end of his visit to Europe.

Review of their pay is being looked into, together with that of civil service pay.

It is likely that that their salaries would be reviewed when the rest of the civil service's pay is being relooked into, The Straits Times reported today.

This comes a week after the government announced that civil service salaries would increase in order to stay competitive in the labour market, and to attract and retain the best talents.

Mr Goh, however, remarked that the two-thirds mark, though the "correct salary", was not necessary, as long as wages remained competitive. He added that "too big an adjustment will cause eyebrows to be raised".

The prevailing formula for calculating ministerial salaries has been in place for over a decade now. It is benchmarked against the salaries of the top earners in six chosen professions, and pegged at two-thirds the median salary of the top eight earners in each of the six professions.

SM Goh emphasised that the final decision to revise lies with the Prime Minister.

Just like that, because the private sector (a select few) are reaping profits due to their dynamism, drive and ability to smell opportunities, the govt says: oh look! We peg our salaries to the top executives, and we're lagging behind...

Are our govt ministers showing the same dynamism and creativity as their private sector 'equivalents'? Did they for one moment wonder whether they have EARNED their pay at all? Isn't this a convenient excuse to pat themselves on the back and give themselves an exhorbitant pay rise, without analysing whether they are actually deserving of such an increment?
Shocked

I-like-flings(m) SG

hmmm so that is where the 7% GST actually going to ar? Laughing

LinYu SG

final the tail is out
Mad Mad Mad

Tan Ah Teck SG

Laughing

Fatum SG

when boardrooms around the world get together to determine the pay of their top execs, they typically benchmark themselves against the exec pay of their competitors' top brass and others in the same industry ....

by this reckoning, we should be looking at the pay of other prime ministers and presidents, no ? .....

but then again ... this is yet another "First" for Singapore, no ? ... Mr. Green

in other countries people become millionaires and enter politics, in Singapore people enter politics and become millionaires .... Razz

Tan Ah Teck SG

Becasue our MPs are great leaders, no? ... Mr. Green

GHoST_18 SG

i think the whole intention of being a minister is wrong...

instead of seeing it as public service...

i reckon they see it as a career...

Rolling Eyes

pie SG

The sheep clothing has come off..

Fatum SG

but it IS a career in Singapore .... Razz

Iron Rice Bowl somemore .... unless you get edged out by some young punk being groomed to be a mini star .... or unless you got a rather indiscrete dotter who langas your mini star dreams .... Laughing

Tan Ah Teck SG

An acting career, no? ... Mr. Green

eyebuzz SG

Wink ... it's a good-looking tail, alright! bushy, tongy, longly and hairy too Laughing

shinta SG

slovakia will follow sg.... in doin this...

Tan Ah Teck SG

And Harry too. Laughing

countdracula SG

this is a bloody shame…. especially at a time when the wages of the masses are under siege. they refused to consider minimum wage yet they themselves need one…this is greed over need. they are not just political leaders but should also serve as moral leaders, clearly the former is lacking. no way in the world is there another government can so freely and unbashly enrich themselves…this is so very distressing….

NewAge SG

i am eating maggie mee everyday and they get a pay rise what the F.

Medicated Oil SG

The Poodles should be given a raise for:

- Not working for the past 6 months and still get their pay
- For being box by a Ah Pek
- Approving the GST to help the poor, which is themselves.
- Using their office hours to be trained to be a entertainer.
- For keeping their mouth so "proactively" shut
- "Being a good pet" ???
- For raising the price of peanuts to $600 000
- Learning for Ah Bian and travel for free and getting no results
- Implementing IPT to save cost for RT
- Fee Hike without a reason
- Exploiting more tax from the stupid, silent and obedient peasants
- For being a "Elite"
- Not getting more bonus
- To make the politicians of the rest of the world look bad i.e. maintain No. 1 salary

av98m SG

and even if you get edged out..there's the lifetime pension plus the enhancement to one's cv etc Laughing

eyebuzz SG

Business minded people will always think of ways to squeeze more doles out of any given or not given situation as legally as possible ... heard of volunteer board members of charitable organisations who claim no salaries even but their own companies are making real business through their association, our politicians merely justify them openly with transparency in parliament expecting everyone to buy their idea that good and capable people don't come cheap and easy. They forgotten they extol everyone else to be a volunteer with real peanuts and pay for any accessories that package this very peanuts. Rolling Eyes

play_n_play SG

i would like to understand,

the best people is working for money or to contribut to their motherland...??? Shocked

Originally posted by BillyBong:
Singapore's ministers' salaries are pegged to private sector rates, but they are currently lagging behind the benchmark, said Senior Minister Goh Chok Tong.

The existing salaries are at 50 per cent of the benchmark, when they should actually be at the two-third mark, SM Goh told the Singapore media at the end of his visit to Europe.

[b]Review of their pay is being looked into, together with that of civil service pay.

It is likely that that their salaries would be reviewed when the rest of the civil service's pay is being relooked into, The Straits Times reported today.

This comes a week after the government announced that civil service salaries would increase in order to stay competitive in the labour market, and to attract and retain the best talents.

Mr Goh, however, remarked that the two-thirds mark, though the "correct salary", was not necessary, as long as wages remained competitive. He added that "too big an adjustment will cause eyebrows to be raised".

The prevailing formula for calculating ministerial salaries has been in place for over a decade now. It is benchmarked against the salaries of the top earners in six chosen professions, and pegged at two-thirds the median salary of the top eight earners in each of the six professions.

SM Goh emphasised that the final decision to revise lies with the Prime Minister.

Just like that, because the private sector (a select few) are reaping profits due to their dynamism, drive and ability to smell opportunities, the govt says: oh look! We peg our salaries to the top executives, and we're lagging behind...

Are our govt ministers showing the same dynamism and creativity as their private sector 'equivalents'? Did they for one moment wonder whether they have EARNED their pay at all? Isn't this a convenient excuse to pat themselves on the back and give themselves an exhorbitant pay rise, without analysing whether they are actually deserving of such an increment?
Shocked [/b]

Lowclassman SG

They squeeze peasants dry.

They will going on sucking as much blood as possible.....So the poors will be at their mercy for help.
This the way human being is going through now. When the bubble is burst...good shows will be following up!!!
Bravo!!!