Despite being short of money for healthcare and infrastructural upgrades, a government political salary committee set up has recommended to increase Ministerial salary from S$1.1 million to S$1.2 million and an increased bonus for the ministers:
“We recommend adjusting the salary levels to match the updated benchmark and some finetuning on the National Bonus conditions. For salary levels, the committee recommended that this is adjusted annually in line with annual benchmark movements. The committee noted the benchmark has increased by 9 per cent since 2011, or a compound growth rate of 1.5 per cent per year over this period, and that no adjustments were made to salaries over this period. The annual salary for an entry-level minister at S$1.2 million, up from the current S$1.1 million. This figure includes a 13th-month bonus, a three-month performance bonus and a National Bonus that is paid if indicators in the framework are met.”
Deputy Prime Minister Teo Chee Hean however responded in Parliament today (Mar 1) saying that the government will neither increase or reduce the million dollar ministerial salaries. Minister Teo Chee Hean noted that according to his benchmark, they deserve a 9% pay raise, but has not “done so for 6 years”:
“The Government has decided not to make any changes, and to maintain the current salary framework and salary level. While the MR4 (or entry-level minister) benchmark has increased by 9 per cent since 2011, the Government noted that the 2017 MR4 benchmark is lower than the 2016 one. It will continue to watch salary trends further. The Government will, of course, keep this House fully informed of any changes to the salary structure or level.”
Singapore spend S$53 million a year on Ministerial salaries, and Prime Minister Lee Hsien Loong is the most expensive politician in the world at S$2.2 million a year.
Minister Teo Chee Hean highlighted that he will review the ministerial salaries when “necessary”.