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Civil Servants to get 2 mths bonus in Dec

Latio79

By Latio79,
in Investment & Financial Matters

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Civil Servants to get 2 mths bonus in Dec  

119 members have voted

  1. 1.

    • Bonus is too little
      51
    • Bonus is fair
      32
    • They are giving too much to the civil servants!!
      36

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Latio79

Latio79

Clutched

SINGAPORE : Next month, the Government will pay civil servants a year-end Annual Variable Component (AVC) of one month on top of the 13th month bonus.

 

In addition, eligible civil servants will be paid a new performance-based Growth Bonus next March. Payable in times of exceptional economic performance, this bonus varies in amount depending on individual performance and aims to strengthen the link between performance and pay.

 

Good performers will receive 0.5 month of Growth Bonus, and better performers will receive more - up to 0.8 month.

 

In a statement, the Public Service Division said the economy has performed better than anticipated this year.

 

The Trade and Industry Ministry has forecast that the Singapore economy is expected to grow by 7.5 to 8 percent this year.

 

The unemployment rate has fallen from 2.7 percent last year to 1.7 percent, with a record high of 171,500 jobs created in the first 9 months of 2007.

 

In July this year, the government paid civil servants a mid-year AVC of 0.5 month and a one-off payment of S$220, in line with the call by the National Wages Council for employers to help low wage workers.

 

The total variable payment for 2007 is 2.5 months + S$220, not including the Growth Bonus.

 

With the Growth Bonus, the total payments for a good performer will be 3 months + S$220 for 2007, compared to 2.7 months + S$220 in 2006. - CNA/ch

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Mivec9

Mivec9

1st Gear

read indeed the top graders will get 3 mths...yummy. I kw standard is aroudn 2mths + 13th mth....not too bad money I would say. You want more, can try to be more adventurous outside in private

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Snookium

Snookium

1st Gear

Is there an offical website for me to join the gov sector....

 

 

This year i get nothing, not even 13th month. Company had been losing money with 0 net profit.

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Nus24

Nus24

Neutral Newbie

Red-hot, but for how long?

 

Wed, Nov 28, 2007

The Straits Times

INFLATION in Singapore is running at an annualised rate of 3.6 per cent. Trade and Industry Minister Lim Hng Kiang has said it could rise to 5 per cent in the first quarter of next year before moderating. The causes of this spike are many. Partly, it is due to a booming domestic economy. A tight labour market has forced up wage costs and lack of office space has forced up rents. Partly it is due to the rise in the goods and services tax (GST). And partly it is due to global forces - a rise in the prices of oil and other commodities. The last, Singapore cannot do much about; the second, the GST rise, is a one-off thing; and the first, a booming economy, one would not want to wish away.

Abstract economic explanations, however, are of little comfort to the ordinary person. Wages, especially at the low end, are probably not rising as fast as the inflation rate, so low-income households will find it difficult to make ends meet. A number of supermarkets - including NTUC FairPrice, Cold Storage and Prime supermarkets - had earlier pledged to absorb the 2 per cent rise in the GST for six months, but that will expire next month. Among the other organisations that had pledged to absorb the GST increase for a period - including a number of other NTUC cooperatives and SingPost - NTUC Childcare was about the only one that said it would do so for up to a year for low-income families. There is room here for the Government to consider rebates and reliefs targeted at low-income families, either in next year's Budget or earlier, to ease the pain.

 

Other measures the Government has taken to curb inflation will need some time to show results. For example, it has taken steps to increase the supply of commercial and residential property, but that cannot be accomplished overnight. The chief policy tool the Government has at its disposal is the exchange rate mechanism. The Monetary Authority of Singapore (MAS) has allowed the Singapore dollar to rise against a trade-weighted basket of currencies, thus making imports cheaper. MAS may have to consider allowing the currency to tighten at a somewhat faster pace, bearing in mind the needs of exporters. Those urging the Government to act more quickly or drastically, however, should bear in mind that it is by no means clear the domestic economy will continue to power ahead next year. The US economy may be slowing and a recession there cannot be ruled out. If that were to occur, the Singapore economy will be affected adversely. The Government will have to be careful not to slam too hard on the brakes to cool a seemingly hot economy just when a cooling may already be on the cards.

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Mivec9

Mivec9

1st Gear

i'm not sure as i'm not from civil service [:p] i kw there used to be a performance given around march/april period previously. Good ones will get full mth [;)]

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Porker

Porker

Turbocharged

I also no 13th month. My company make $$$ I still no 13th month. At least the pay is relatively ok. Thats why I fired my boss 2 days ago! [:p]

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Dafansu

Dafansu

Turbocharged
Correct me if wrong but i read somewhere there the Growth Bonus will only be given in 2008 Mar

 

yes growth bonus in 2008 so how can they compare this way -----

 

With the Growth Bonus, the total payments for a good performer will be 3 months + S$220 for 2007, compared to 2.7 months + S$220 in 2006.

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Bj1005

Bj1005

Neutral Newbie

So, the total pay for Civil Servants in Dec will be their Basic pay + 13th mth + 1 extra mth. The Growth Bonus will only be given in March. Sounds not as good as previous year!!

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Adrianli

Adrianli

Hypersonic

Dont forget civil servants had a pay revised in the middle of tis year!!! Plus they have performance bonus, now another growth bonus. They are getting paid more than me!!!!

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Cheerios

Cheerios

Neutral Newbie
(edited)
So, the total pay for Civil Servants in Dec will be their Basic pay + 13th mth + 1 extra mth. The Growth Bonus will only be given in March. Sounds not as good as previous year!!

 

 

you got it slightly wrong, for this year...

 

we were givien

 

basic pay + 13th mth + 1 extra mth + 0.5 mth (special bonus paid in june/jul) + 0.5-0.8mth (growth bonus) + 1-2 mth performance bonus

 

[laugh]

 

total bonus is about 4-5 months... [laugh]

 

why i know? i poor civil servant.. i will be a servant to someone...

Edited by Cheerios
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