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#1
14-10-2014, 09:00 PM
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How the PAP rewarded theselves with 19-month bonuses in 2008
An honorable member of the Coffee Shop Has Just Posted the Following:
On hindsight, it appears the PAP had already decided to increase the population, knowing full well that GDP would shoot up. That was the reason for having a GDP bonus of up to 8 months for GDP growth of between 2 to 10% (pt 76). On top of this, there was a ‘performance bonus’ of up to 14 months, ‘AVC’ of up to 1.5 months, 1-month ‘Special Allowance’ month and 2-month ‘Public Service Leadership Allowance’ making it a maximum total bonus of 26.5 months. The PAP and civil service were only interested in milking more tax dollars using PAP’s salary formula by ramping up GDP figures. Double standard Instead of eliminating the ‘GDP Bonus’ in the 2011 ministerial pay review, the PAP replaces it with a ‘National Bonus’ which still includes the GDP performance reduced to 25%. The maximum bonus excluding the SVP adds up to 13.5 months. At $120,000 and $59,760 per month for the PM and ministers respectively, why are they entitled up to a 13.5 month bonus? Are they expected to performed poorly despite a high fixed pay and receive outsized bonuses because they perform better than expectations of poor performance? Since the PAP has always blamed external factors when the economy tanks, isn’t it only logical that when the economy performs exceptionally well, it is also due to external factors? Why is the maximum public sector bonus more than triple the average bonus in the private sector? Since EVERYONE (including all menial workers) has a part in helping the economy grow, why are rank and file employees paid close to nothing excluding the ‘13th month’ pay? The PAP has therefore been the biggest culprit contributing to the widening income gap. PAP’s greed cannot be more evident in 2008. More....... http://likedatosocanmeh.wordpress.co...nuses-in-2008/ Click here to view the whole thread at www.sammyboy.com. 
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