Friday 14 September 2018

The Million-dollar salary: separating facts from lies

Did you see this photo  (on the left) being spread on WhatsApp? 





That's fake news.


It's meant to make you see red, and green with envy. But why should you?

Here's the truth.
The source is the White Paper on salary review.

1. The Prime Minister does not get a performance bonus because there is no one to assess his individual performance.

2. The prime minister gets only one salary. He does not get paid extra for being the chairman of GIC or PA.

Similarly, ministers who hold more than one portfolios in different ministries get only one salary. They do not get paid double for helming more than one ministries.

3. The $2.2m that the PM gets in a year is NOT JUST THE FIXED MONTHLY SALARY + 13 month. It INCLUDES the annual variable component and national bonus.

In other words, the bonus is not over and above that $2.2m. It's included in the $2.2m.

4. Ministers' salaries (MR3, MR4) DO NOT CROSS the one-million mark if the performance and national bonuses, and the annual variable component are excluded.








Like his father, Lee Kuan Yew, Prime Minister Lee Hsien Loong also donated millions to charity.

When ministers' salaries were given a raise in 2007, PM Lee did not give himself a raise. Instead, he donated all of his salary hike for 5 years from 2007 to charity.

The total amount donated was $3 million.

He further donated another $350,000 in 2012 to establish 3 new awards to promote community bonding.

He had also donated 100% the value of 38 Oxley Road which was bequeathed to him, to charity.

Not only that, every cent he received in defamation suits is also donated to charity.


References:
https://www.psd.gov.sg/docs/default-source/default-document-library/white-paper---salaries-for-a-capable-and-committed-govt.pdf

https://www.psd.gov.sg/docs/default-source/default-document-library/white-paper/dpm-speech-16-jan-2012.pdf

https://www.psd.gov.sg/docs/default-source/default-document-library/white-paper/dpmclosingspeech18-20jan2012-1.pdf