Senior Civil Servant's Pension Will Be Renamed As "Long-Term Long-term Retention Package"

Yahoo! News Singapore, 8 Apr 2013
Civil servants in the elite Administrative Service and in judicial and key statutory appointments will no longer receive pensions, according to Deputy Prime Minister Teo Chee Hean in Parliament Monday.
Teo said in Parliament that the pensions will be replaced with a long-term retention package for officers in the Admin Service. This would help keep these officers to ensure the policies they are working on have a sense of continuity.
Teo said that a gratuity plan would be put in place for judicial and statutory appointment holders, including the Attorney-General, Auditor-General and chairman of the Public Service Commission. Full story

Obama cutting own pay in solidarity with federal workers

Reuters, 3 Apr 2013
(Reuters) - President Barack Obama plans to give back 5 percent of his pay in a gesture of solidarity with government workers who must take unpaid leave as a result of deep spending cuts that went into effect last month.
The president's self-imposed pay cut would be effective from March 1, when the spending cuts began, and would last through the end of December, an administration official said on Wednesday. Full story

Over half of Singapore finance professionals dismayed with bonus pay

Yahoo! Finance Singapore, 20 Feb 2013
According to a survey be eFinancialCareers, the average bonus payment in financial services has increased 8% compared to last year according to the preliminary results of a comprehensive survey by leading online career site eFinancialCareers.
However, the majority of finance professionals in Singapore aren’t taking home a larger payout. In fact less than a third (31%) have seen an increase on their 2011 bonus payment and this indicates that only a select few are enjoying a bigger reward.
A similar proportion (32%) said that their bonus payment had met their expectations. Most were left disappointed and said their bonus was lower than they had expected (52%). Full story

Almost all Malaysian workers will get pay rise next year: survey

The Malaysian Insider, 17 Dec 2012
SINGAPORE, Dec 17 – Almost every Malaysian employee expects to get a pay rise next year, according to Randstad’s latest Workmonitor Report for fourth quarter released today.
This figure is among the highest from a global survey of 14,780 employees from 32 countries, with respondents across the region less confident about their prospects of a pay rise in China (82 per cent), Singapore (76 per cent), Australia (75 per cent), New Zealand (69 per cent) and Japan (42 per cent).
Randstad Malaysia Director Jasmin Kaur said this sentiment was in line with the solid financial performance of businesses across Malaysia, with four in five (82 per cent) of employees surveyed indicating their company performed well this year despite the global economic challenges. Full story

Related:
Randstad Workmonitor "Employee expectations for 2013" (Dec 2012) - Randstad.com

SMRT CEO Desmond Kuek insists China bus drivers' pay is "fair"

Yahoo! News Singapore, 3 Dec 2012
SMRT CEO Desmond Kuek on Monday reiterated to bus drivers from China that their existing compensation is fair despite being lower than that of their Malaysian colleagues.
In his first townhall session with the drivers in the wake of their two-day “illegal strike” last week, Kuek noted that with the transport, accommodation and utilities of about $275 borne by the company for the China bus drivers and not for the Malaysian drivers, “your compensation terms... are fair and equitable”.
Seemingly hinting that no further pay raise would be forthcoming, Kuek said that, with recent increments, the starting pay of the mainland China drivers is now $1,100.
He further pointed out that with the clocking of an average of 60 overtime hours a month, gross pay can be as high as $1,800. Full story

Related:

1. Is Desmond Kuek a responsible SMRT CEO? - Singapore Recalcitrant
2. SMRT says no further adjustments of pay for China bus drivers - XIN MSN News