The 2015/2016 National Wages Council (NWC) will convene in April and May this year under their new chairman, Peter Seah, to develop its annual wage and wage related guidelines.
Succeeding Professor Lim Pin, Peter Seah served as the deputy chairman of the 2014/2015 NWC, a press release from Ministry of Manpower (MOM) stated.
Seah is currently the chairman of DBS Group Holdings and DBS Bank, and chairman of Singapore Health Services Pte Ltd and LaSalle College of the Arts Limited.
“I thank Professor Lim for his leadership and guidance as chairman of the NWC,” Tan Chuan-Jin, Singapore’s current Minister for Manpower said.
“Through tripartite partnership, the NWC continues to play an important role in guiding sustainable wage adjustments for Singaporeans. Mr Peter Seah has a wealth of experience and a distinguished record of service, and I am confident in his Chairmanship of the important work of the NWC.”
MOM encouraged Singaporeans to share their views on what could be included in NWC’s annual wage recommendations, as well as other wage-related issues.
It highlighted feedback received will be considered by the NWC as part of its deliberations.
“In its deliberations on wage guidelines, the NWC considers factors such as Singapore’s economic performance, as well as the domestic and global economic outlook,” the press release stated.
“At the same time, the NWC takes into account Singapore’s economic competitiveness, labour market conditions, inflation, and productivity growth.”