Singapore Civil Service Bonuses
Singapore has some unique aspects to its highly regarded civil service. One is the scale of salaries, the other is the pegging of bonuses to how well the economy is doing. This week the end of year bonuses were announced, and they suggest a cooling of the economy both in Singapore and in the wider world.
Singapore is one of the few countries to peg its bonuses to the national economy, giving less room for political manoeuvring around election time. The Singapore Public Service is the island’s largest employer, with 139,000 officials in 16 ministries.
Ministers and senior personnel are paid salaries that are intended to be high enough to prevent corruption. However, two years ago salaries were cut, although they’re still relatively high – the Prime Minister still has a salary worth over US$1.7 million and other ministers can be paid around half that.
Civil servants are paid an extra month’s bonus annually, plus there is a variable bonus based on how the $298 billion Singapore economy is performing. That bonus for end of year 2014 has just been announced at a total of 2.3 months. This compares to 2.5 months in 2013.
This is in line with the prediction that Singapore’s growth will be 3% in 2014 compared to 3.9% in 2013, with a slowing global economy expected in 2015.
About Graham Scott
Graham is an experienced editor and publisher and an award-winning writer. He has travelled extensively and is interested in world cultures.
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