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Archive for November, 2009

Civil Service Bonus 2009

Friday, November 27th, 2009

This year, civil servants will get the usual AWS and a one-off payment of 0.25 month capped at $750. This means that a civil servant earning a monthly salary of $3k will get 1.25 months of bonus worth $3,750, whereas another civil servant earning $10k a month will only get 1.075 months or $10,750. Whose [...]


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2 Risks of Sibor-Pegged Home Loan

Sunday, November 22nd, 2009

Much has been mentioned about the “transparency” of Sibor-pegged mortgage loans. But there are TWO risks associated with such loans. First is of course the possibility that the Sibor rate may go up. And it may shoot up dramatically. Just 3 years ago, Sibor was hovering around 3.5%. If your bank charges you Sibor + [...]


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Our Poll Results: Our Readers Save 33.1% of Their Income

Sunday, November 22nd, 2009

We conducted a poll on how much Salary.sg readers save. The results of the poll show that the average saving rate of our readers is 33.1%. The average Salary.sg saves about one-third of his/her monthly salary. The poll attracted more than 700 responses, 32% of which picked 21-40% as their saving rate. Another interesting finding [...]

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What’s not good about Supplementary Retirement Scheme (SRS)

Sunday, November 15th, 2009

At first glance, the Supplementary Retirement Scheme (SRS) appears to be a very good deal. But after a simple analysis, we will know why it is not the case. As illustrated in today’s Sunday Times (see similar example in Finatiq), a contribution of $11,475 to your SRS account brings about a tax saving of $1,096. [...]

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Our Poll Results: 41% readers make 100k, mostly from MNCs

Sunday, November 15th, 2009

About 41% of Salary.sg readers make more than $100k per annum. This is according to our poll which garnered more than 800 responses. Out of this group of high earners, about two-thirds work in multinationals (or MNCs). As for those who work in government-linked companies (GLCs), slightly more than one-third make more than $100k. Contrast [...]

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How Much Do You Save?

Sunday, November 8th, 2009

Some people save a fixed amount of their monthly income and spend the rest. Others like myself spend prudently and save the rest. Regardless of whether you’re a spend-the-rest or save-the-rest saver, you should be able to gauge roughly how much you save a month. Though thrift and financial prudence have been extolled as good [...]

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