Quote:
Originally Posted by Unregistered
Don't understand why people are so concern about MVC if it is going to be implemented in June. As economy is bad and everywhere is exercising cost cutting regardless CS, PS or private. Either more work or less work to do, it is inevitable that we are heading into recession.
MVC is just temporary and when economy back on track, you will get your normal pay.
And probably there is no bonus and pay freeze next year but it is across all industry (maybe minority excluded).
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It could mean pay cut of 10% and even more if you are in management. This is substantial. With lower pay, employer
cpf contribution is also affected.
.businesstimes.com.sg/government-economy/national-wages-council-recommends-lower-mvc-or-10-of-basic-pay-if-cuts-needed%3famp