Human Resources

Toggle

Article

bonus HR

Singapore’s civil servants to get 0.5 month year-end bonus



Uncover and learn about complex HR innovation tools and strategies at Accelerate HR from Thailand's largest employers including Agoda, DKSH, Fonterra, FWD, Kasikornbank, Minor Food, Nissan Motor and more.
Happening in Bangkok on 26-27 November, group discounts when you bring your team.

Civil servants in Singapore can expect to receive a year-end Annual Variable Component (AVC) of 0.50 month – slightly lower than last year (0.65 month).

According to the Public Service Division (PSD), this lower year-end AVC was decided against the backdrop of a weaker global and domestic economic environment.

Signaling the Government’s continued commitment to help low-wage workers, lower-wage civil servants will get a minimum year-end AVC of $900. This move is expected to benefit about 1,900 civil servants.

“For example, an officer earning a monthly salary of $1,500 will get a year-end AVC of $900. This is $150 more than what he would get at 0.50 month of his monthly salary (which would have been $750),” the PSD stated.

In total, along with the mid-year AVC of 0.45 month, civil servants will receive a full-year AVC of 0.95 month in 2016.

“The year-end AVC payment (including the minimum payment) was decided in consultation with the public sector unions,” the PSD stated.

Additionally, all civil servants will get the Non-Pensionable Annual Allowance (NPAA) of 1 month, to be paid in December together with the AVC.

Photo / 123RF

Read More News

Trending

Leave a Reply

You must be logged in to post a comment.