Civil Service Payments
Year End Annual Variable Component of 2.0-month for all civil servants
The Singapore economy grew by 4.9% on a year-on-year basis in the fourth quarter of 2014, unchanged from the growth recorded in the preceding quarter. Global economic growth is expected to improve in 2015, supported by continued recovery in the US and the Eurozone.
In Asia, while the ASEAN economies are likely to remain resilient, China’s growth is expected to moderate slightly in 2014. Amidst this global backdrop, the Ministry of Trade and Industry forecasts GDP growth of 2% to 4% for 2014. Nevertheless, downside risks remain, such as monetary conditions in the US tightening faster than expected. The overall unemployment rate in Singapore remained low at 2.1% in March 2014.
Against this backdrop, the Government has decided to pay a year-end Annual Variable Component (AVC) of 2.0-month.
The Government also supports the National Wages Council’s (
NWC) recommendation to grant a dollar-for-dollar Growth Bonus to all civil servants. This is over and above the 13th month wage supplement.
The AVC and the Growth Bonus will be paid in December 2014.
The year-end payments were decided in consultation with the public sector unions.