April 9, 2007
AsiaOne

Singapore's President and Prime Minister will get a 25 per cent increase in pay rise, which will bring their pay up to over $3 million a year.

President S.R. Nathan's pay will get $104,840 a month, or $3.187 million a year, while Prime Minister Lee Hsien Loong's will go up to $101,680, or $3,09 million, from April. Their last drawn pay was $2.55 million and $2.46 million respectively.

Mr Teo Chee Hean, Minister in charge of Civil Service, said the increase will bring the PM's pay to the 102nd level among the private sector earners, from the current 164th ranking. In 2000, the last time the ministerial pay was revised, the Prime Minister's salary ranked 63rd.

The service bonus for the President and PM will also be increased from five months to seven months, which is in line with the two month rise in performance bonus that those in grades MR4 - senior Permanent Secretaries and above - could qualify, said Mr Teo, pointing out that about 20 per cent of their salaries will be predicated on the GDP bonus.

All the salary revisions are nonp-pensionable and there will be no increase in pension cost, said the Minister.

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