8 Months Bonus for Northwest CDC Staff
March 14th, 2009
Heard it on radio news again today. Mr Teo Ho Pin, who’s mayor of Northwest CDC, did not deny the Internet rumours that 2 staff from Northwest CDC received 8 months bonus.
The news also mentioned that the bonus is set in accordance with National Wage Council guidelines.
After googling, I found that this has also been reported in the 938 Live (radio) site, and also in Chinese in the Capital 958 site a week ago.
Now, after our town councils incurred million-dollar losses in Lehman Brothers-linked investments, and with an expected record number of job losses this year, is it even appropriate to reward staff with such eye-popping bonuses with taxpayers’ money? [Update 17-Mar: It has been revealed that the 2 staff are "managers in mid to senior positions" in Northwest CDC.]
And isn’t this at odds with the pay cuts announced by the government and lately some GLCs and TLCs?
[Update 15-Mar: Mayor Teo Ho Pin in his latest interview clarified that "mayors do not decide on the salaries, the increments, the bonuses of all our staff at the CDC... If you ask me, I do not know the salaries; I do not know the bonuses of all my staff" and went on to say that top performers will get better bonuses and that "in the private sector, it's the same thing."]
How much bonus did you receive this year?
. reasons are obvious if you scroll down this forum –...
james Says:
March 14th, 2009 at 10:57 pm
My bonus is 3 months. I work in a support function in a foreign bank and my performance was rated excellent by my bosses. Though the bank’s business was very good last year, no one in my department, or any other support department, got more than 3.5 months.
8 months would be unimaginable.
In my opinion, a CDC plays some kind of a support function in Singapore, so why are we paying sales-type of bonuses?
3 months in such a climate is more than enough for any superior performance. The CDC in question has no sense of proportion.
Jimmy Lim Says:
March 14th, 2009 at 11:19 pm
The moral of the story.
Get yourself employed as Northwest CDC staff.
Anywhere, what did they done to deserve 8 months of salary?
S N Y Says:
March 16th, 2009 at 7:23 pm
Yes, i’d like to know too what the staff did to get the 8 months bonus.
normal Says:
March 17th, 2009 at 8:52 am
i think 8 months is pretty normal…
methinkstoo Says:
March 18th, 2009 at 12:27 am
I think so too. So many people got more than 8 months as stated by the above poll. The CDC people should get more considering they are doing important nation building work.
yoyo Says:
March 18th, 2009 at 3:52 pm
“These are special people. They are the best and so deserve the best pay. The losses? One must be wholistic … There’s up and there’s down. There’s profit and there’s losses. The amount is peanuts compared to the total funds; only a few percentage! 8 months bonus? We see CEOs and top people getting more than 12 months bonus, what is 8 months? I don’t understand what the fuss is all about! Sack? Yes, the Payment Admin Officer may be investigated and removed. Pls don’t go on a witch hunt anymore. We have too large reserves? Don’t be stupid. These funds are safety nets. Safety nets are required in emergencies. They are critical and never too large, one must always be ready! Anymore bonuses to other staff? Sorry these information are all confidential. Just a range and no details? Oh I don’t know … pls ask other department …
barclays Says:
March 19th, 2009 at 12:45 am
yeah, that poll is obviously reliable since it’s done over the internet.
Recession_pls_go_away Says:
March 19th, 2009 at 7:27 pm
I think it is just the system in civil service and government-related companies. There is performance bonus in March, and then there is the year end bonus, where, for superscale salary earners (either damn old or damn educated), it is directly tied in with economic performance. The performance march is given out on a grading basis. Inevitably some people will get an “A” – and the luan qi ba zhao bonus that comes with it. Coupled with the fact that our economy still grew despite the shitty run-in, 8 months in total is not that impossible. For a private market equivalent, just ask the keppel engineers [...and aig executives who are pretty receiving the same form of flakes.
]
Recession_pls_go_away Says:
March 19th, 2009 at 7:39 pm
barclays Says:
March 19th, 2009 at 12:45 am
yeah, that poll is obviously reliable since it’s done over the internet.
Why more zhun leh? Voluntary survey is highly reliant on polarized opinion – people who bo hiu about the article will not vote.
But you salary is very high. That is all that matters. haha.
noname Says:
March 21st, 2009 at 5:53 pm
i just wonder wat is the annual package of civil service, let say management executive MX grade.
wat other bonus they get?
All I know is they are getting this below for year 2008 if I m not wrong;
AWS(1 month confirm got one) + AVC(0.5mth on jun08 + 0.5mth on dec08 + $220) + performance bonus( i dunno how many mths is this depend on individual)
Please correct me if i am wrong. Thanks.
january Says:
March 21st, 2009 at 9:39 pm
Read elsewhere that some forums with threads relating to this story was taken out….
low cost-low tech Says:
March 21st, 2009 at 10:42 pm
is gic + keppel private sector ??
john Says:
March 21st, 2009 at 11:06 pm
both are government-linked.
january Says:
March 21st, 2009 at 11:40 pm
Keppel is listed on the exchange leh.
low cost-low tech Says:
March 23rd, 2009 at 9:17 am
is the working conditions in gic + keppel private sector ?
SGDividends Says:
March 24th, 2009 at 11:32 pm
Keppel is private lah.
Government link is quite broad right? Citigroup also government link. Standard Chartered also governmnet link.
As as SWF has shares in a company..thats government linked….dont u think.
adiemuso Says:
March 25th, 2009 at 10:04 am
think they are refering to company culture…
bonus Says:
May 16th, 2009 at 2:08 pm
How much bonus this year?
solo Says:
April 20th, 2010 at 3:17 pm
Unless they are relatives to one of the MPs?