Civil Service Year‑end Payment 2015
Civil Service Year-End Payment
Civil servants to get year-end AVC of 0.65 month. Low-wage officers to get minimum year-end AVC of $1,100.
The Singapore economy grew by 1.9% on a year-on-year basis in the third quarter of 2015, moderating slightly from the 2.0% growth in the second quarter. This brought the GDP growth in the first three quarters of 2015 to 2.2% on a year-on-year basis. The Ministry of Trade and Industry has forecast that the economy will grow by close to 2.0% for the whole of 2015. Unemployment remained low while total employment growth has continued to slow amidst weaker economic conditions.
Against this backdrop, civil servants will be paid a year-end Annual Variable Component (AVC) of 0.65 month. Low-wage officers will get a minimum year-end AVC of $1,100. This signals the Government’s continued commitment to help low-wage workers.
Around 1,300 civil servants will benefit from the minimum AVC payment of $1,100. For example, an officer earning a monthly salary of $1,500 will get a year-end AVC of $1,100. This is $125 more than what he would get at 0.65 month of his monthly salary (which would have been $975).
The year-end AVC payment (including the minimum payment) was decided in consultation with the public sector unions.
All civil servants will also get the Non-Pensionable Annual Allowance (NPAA) of 1 month, to be paid in December together with the AVC.