SINGAPORE: Civil servants will receive a total variable payment this year which is one month less than last year, in view of the slowdown in the global economy and in Singapore.
The year-end Annual Variable Component (AVC) will be reduced to 0.5 month, from one month last year. There will be no special Growth Bonus this year, unlike in 2007 when a special Growth Bonus of 0.5 month was paid.
Civil servants will still receive the 13th month payment or Annual Wage Supplement.
As such, the total AVC and 13th month payment for civil servants in 2008 is two months plus S$100 to S$3,001. This is one month less than the total paid out in 2007 which was three months plus S$220 including the Growth Bonus.
Full report on Channel NewsAsia.
Subscribe
Login
0 Comments
