DBS chairman Peter Seah takes over NWC helm from Prof Lim Pin
Singapore
PETER Seah is taking over as chairman of the National Wages Council (NWC), succeeding Professor Lim Pin, who held the post from 2001 until last year. Mr Seah, chairman of DBS Group Holdings and DBS Bank, was deputy chairman of the 2014/2015 NWC. He also serves as the chairman of Singapore Health Services Pte Ltd and LaSalle College of the Arts Limited.
The Ministry of Manpower expressed its deep appreciation to Professor Lim Pin for his leadership of the NWC over the years, and for furthering the spirit of tripartite trust and cooperation among employers, unions and the government. The ministry noted on Monday that some of the key milestones under Prof Lim's watch included a shift away from seniority-based pay elements towards more flexible incentives and variable bonuses tied to actual business performance, which have helped protect businesses' viability and Singaporeans' jobs during difficult periods. Under Prof Lim's leadership, the NWC also introduced in 2012 guidelines calling for a minimum built-in wage increase for low-wage workers, so as to better recognise their contributions; this effort has contributed to strong wage growth among low-wage workers in recent years.
Manpower Minister Tan Chuan-Jin said: "I thank Prof Lim for his leadership and guidance as chairman of the NWC. 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."
The NWC, a body with employer, union and government representatives, will convene in April and May 2015 to develop its annual wage and wage-related guidelines.
