Quote:
Originally Posted by Unregistered
Look at your salary slip and you will notice there is a MVC component. This MVC component is about 8+ percent and is meant to be adjusted if need be in an economic downturn. So whatever MI/PI you get will raise your gross salary and MVC component. Any decrease will likely be on MVC .
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Thanks for sharing. Made me realise there are many acronyms in my salary slip I never bothered to understand before. Tried to Google; the only thing I found was this (HK-based) report on SG's civil service salary structure:
s://.jsscs.gov.hk/en/publications/pwc/appendix_d.htm
Seems like NPVP is another chunk that can be cut during downturns!