Singapore ministers, among world’s highest paid government officials, get first raise in 15 years
Summary
Singapore’s government has approved the first increase in ministers' salaries in 15 years to attract talented people into politics. The lowest minister salary rising from about $868,000 to a benchmark of $1.42 million, while the prime minister’s salary will increase to $2.8 million, with actual pay adjusted by performance.Key Facts
- Ministers’ salaries in Singapore will increase after 15 years without a raise.
- The lowest minister’s benchmark salary will rise from 1.1 million to 1.8 million Singapore dollars (~$868,000 to $1.42 million).
- The prime minister’s benchmark salary will increase from 2.2 million to 3.6 million Singapore dollars (~$1.7 million to $2.8 million).
- Ministers will not move immediately to the full new salary but will get a one-time raise of up to 9% starting October 15, based on performance.
- Most ministers at the lowest grade are expected to earn around 1.35 million Singapore dollars (~$1.06 million) by the end of the term.
- Prime Minister Lawrence Wong said he will donate his entire salary increase to charity for five years.
- The government uses the median income of the top 1,000 Singapore earners as a benchmark and applies a 40% discount to reflect public service.
- The salary system will be reviewed every five years to keep it updated.
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