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Civil Service employees to receive 0.65-month year-end bonuses
On back of a growing economy, MTI said.
Singapore’s economy has once again been transcending expectations this month, even after growth moderated slightly from 2% last quarter to 1.9%. Against this backdrop, the Ministry of Trade and Industry said civil servants will be handed year-end Annual Variable Component bonuses of 0.65 month.
According to a statement by the MTI, low-wage officers will also get a minimum year-end AVC of $1,000, signalling its commitment to assist low-wage workers.
“Around 1,300 civil servants will benefit from the minimum AVC payment of $1,100. For example, an officer earning a monthly salary of $1,500 will get a year-end AVC of $1,100. This is $125 more than what he would get at 0.65 month of his monthly salary (which would have been $975),” the statement said.
The bonuses have been decided in consultation with public sector unions, MTI said.
“All civil servants will also get the Non-Pensionable Annual Allowance (NPAA) of 1 month, to be paid in December together with the AVC,” they added.
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