SG Wealth Builder

To make money. To build wealth. To preserve wealth.

Civil Service Mid Year Bonuses

Ranked Top 75 Singapore Investment Blog by Feedspot

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 2,254 other subscribers

 Mid-Year Annual Variable Component of 0.5-month for all civil servantsIn addition:

Division IV officers to receive a wage increase of $70 in monthly salary, and
Division III officers to receive a wage increase of $30 in monthly salary, over and above their annual increment in 2014.

The Singapore economy grew by 4.9% on a year-on-year basis in the first quarter of 2014, unchanged from the growth recorded in the preceding quarter. Global economic growth is expected to improve in 2014, supported by continued recovery in the US and the Eurozone. The overall unemployment rate in Singapore remained low at 2.1% in March 2014.

Against this backdrop, the Government has decided to pay a mid-year Annual Variable Component (AVC) of 0.5-month.
The Government also supports the National Wages Council’s (NWC) recommendation to grant a built-in wage increase to raise the wages of low-wage workers. The Government will give a built-in wage increase to Division IV and III civil servants. This will be in addition to their annual increment in 2014.

Division IV civil servants will receive a built-in wage increase of $70 in their monthly salaries. This will benefit around 3,500 Division IV civil servants. Division III civil servants will receive a built-in wage increase of $30 in their monthly salaries. This will benefit around 5,500 Division III civil servants.

In all, the Civil Service’s NWC adjustments will benefit about 9,000 Division IV and III civil servants. This signals the Government’s continued commitment to help raise the salaries of lower-wage civil servants, in line with productivity growth and private sector salary benchmarks.

The mid-year AVC and the built-in wage increase for Division IV and III civil servants will be paid in July 2014.

REITS Master Class

Reits Masterclass
Updated: January 10, 2015 — 2:59 pm

Leave a Reply

SG Wealth Builder © 2016 Frontier Theme

Sign up for SG Wealth Builder articles

Enter your email and stay on top of things! Get the latest articles on hot stocks, career, property strategies and gold market!

Join 2,254 other subscribers

%d bloggers like this: