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Singapore civil servants to get 0.8-month year-end bonus
ALL civil servants in Singapore will receive a year-end Annual Variable Component (AVC) bonus of 0.8 month, on top of the traditional 13th-month bonus, the Public Service Division (PSD) said on Tuesday.
Together with the mid-year AVC of 0.5 month, the total bonus for the year comes up to 2.3 months and will be paid in December. This is less than last year's total bonus package of 2.5 months, but higher than the two months' bonus given out in 2012.
PSD also announced that all lower-wage officers will receive an AVC of at least S$1,200 , a signal of the government's "continued commitment" to help this group of workers.
The labour movement said the payouts this year were a result of several rounds of "close consultations and negotiations" between public-sector union representatives and PSD, taking into account Singapore's economic performance and the National Wages Guidelines for 2014/15.
Earlier on Tuesday, the Ministry of Trade and Industry forecast that GDP growth would come in at around 3 per cent for 2014, a narrowing of the previous GDP forecast of 2.5-3.5 per cent announced in August.
"While Singapore's growth forecast has narrowed, we are heartened with the fair payout this year. In particular, we are pleased that continued focus has been placed on the Division 3 and 4 employees," said National Trades Union Congress assistant secretary-general Cham Hui Fong.