SUBSCRIBE: Newsletter

Human Resources



Public sector employees to get 0.8 month year-end bonus

Back in Hong Kong for its fourth year on September 5 at the Hotel ICON, Learning and Development Asia is bigger and better than ever before and earned its reputation as the most influential L&D strategy event in Asia.
Pre-order your tickets now!
Contact us now for an amazing group discount

Singapore’s civil servants will get lower year-end bonuses than they received last year, in line with the GDP growth forecast for 2014, the Public Service Division (PSD) has announced.

They are expected to be paid a year-end Annual Variable Component (AVC) of 0.8 months, down from 1.1 months paid out in 2013

However, a minimum amount of $1,200 has been specified to benefit lower-wage officers. For example, an officer earning a monthly salary of $1,200 would be due $960 (at 0.8 of his salary), but the minimum amount will ensure he gets an AVC of $1,200 instead, equivalent to a full month’s salary.

“This signals the Government’s continued commitment to help lower-wage workers,” said the PSD’s statement. 

It expects around 980 civil servants to benefit from the minimum AVC payment.

The PSD has rolled out the bonus payments in consultation with public sector unions, keeping in mind the full-year GDP growth, estimated at 3%.

“This represents a narrowing of the previous GDP forecast of 2.5% to 3.5% announced in August. The job market remained tight in the third quarter of 2014, as unemployment stayed low and steady, with employment growth matching the previous quarter,” it said.

Image: Shutterstock

Boost your team morale and showcase your team's achievements at the HR Excellence Awards. Benchmark yourself with the industry. View the categories and find out more.

Read More News


Leave a Reply

You must be logged in to post a comment.