The new salaries are based on the committee’s recommendation to benchmark the MR4 Minister’s salary to the median income of the top 1,000 earners who are Singapore citizens and with a 40% discount to signify the ethos and sacrifice that comes with political service. This benchmark is based on a larger pool that does not specify occupations and covers only Singapore Citizens, the pool of talent that our political leaders will be drawn from.
- President sees 51% cut and PM sees 36% cut
- Minister’s salary to be cut by 37%
- Minister’s pay to start from $935,000 a year
- MPs will get a 3% cut from their 2010 allowance
- Pension scheme to be removed
In addition, the National Bonus has a strong link to the socio-economic progress of average and lower income Singapore Citizens.The Prime Minister intends to accept the committee’s proposal.
For the full press release on the revised political salaries and detailed breakdowns of the current annual versus revised salaries, click here.
No special privileges
In addition to the revised salary structure, MPs and Ministers do not enjoy any special reduction in taxes.
In a report shared by The New Paper mid last year, MPs shared how their allowance was utilised. Some of our MPs use the bulk of their allowance to support their constituency events, donate generously to causes and even assist residents who may fall through the social security nets.