Singapore civil servants to get 0.5 month year-end bonus

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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.

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via Human Resources Online http://ift.tt/1mv9Hyn

November 27, 2016 at 01:05PM

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