Swedish minister: public sector pay should not be benchmarked to private sector

[LITTLEREDDOT]

SWEDISH MINISTER: PUBLIC SECTOR PAY SHOULDN’T BE BENCHMARKED TO PRIVATE SECTOR

5 Sep 2014 - 4:56pm




Peter Norman is Sweden’s financial markets minister. He is reforming Sweden’s state pension schemes, known as the AP funds; cutting five funds into three. Despite a background in financial services, he is against benchmarking public sector pay to that of the private sector: FT reported on Monday:

Adding insult to injury for those working at the AP funds, whose jobs are now at risk, Mr Norman also wants to cut the salaries of those who will remain at the three buffer funds drastically.

He believes their salaries should not be benchmarked against private sector companies but against other public authorities, such as the central bank, where pay is far less generous. He does not buy the argument that this will result in a “brain drain”.

“Take SMHI, which delivers the [Swedish] weather forecasts,” he says. “Surely there is a weatherman in the US who is considered the best in the world and who earns an astronomical salary, but that doesn’t mean someone at SMHI should earn the same. We need discipline.” *​

Benchmarking salaries in this way would cut the pay for AP staff in half, according to those inside the funds. “It is a tough pill to swallow,” says Mr Norman, who has spoken out against excessive pay in the financial industry frequently.

 

[iluvgst]

What he says is true. We need discipline. Unfortunately that is not the case in some countries where the leaders' creed is based on unwanton greed and avarice.

 

[kaipoh]

WP should invites him to speak in hong lim park on the same topic.

SWEDISH MINISTER: PUBLIC SECTOR PAY SHOULDN’T BE BENCHMARKED TO PRIVATE SECTOR

5 Sep 2014 - 4:56pm




Peter Norman is Sweden’s financial markets minister. He is reforming Sweden’s state pension schemes, known as the AP funds; cutting five funds into three. Despite a background in financial services, he is against benchmarking public sector pay to that of the private sector: FT reported on Monday:

Adding insult to injury for those working at the AP funds, whose jobs are now at risk, Mr Norman also wants to cut the salaries of those who will remain at the three buffer funds drastically.

He believes their salaries should not be benchmarked against private sector companies but against other public authorities, such as the central bank, where pay is far less generous. He does not buy the argument that this will result in a “brain drain”.

“Take SMHI, which delivers the [Swedish] weather forecasts,” he says. “Surely there is a weatherman in the US who is considered the best in the world and who earns an astronomical salary, but that doesn’t mean someone at SMHI should earn the same. We need discipline.” *​

Benchmarking salaries in this way would cut the pay for AP staff in half, according to those inside the funds. “It is a tough pill to swallow,” says Mr Norman, who has spoken out against excessive pay in the financial industry frequently.

 

[laksaboy]

"Singapore is small, people are our only resources and we need the best pay to attract top talent to the public sector."

I should be a spokesperson for the establishment.

 

[sirus]

WP should invites him to speak in hong lim park on the same topic.

Why limited to hong lim? Should give him sg citizenship and fight pap.

 

[Equalisation]

Yes. This is infuriating to say the least ! Million dollars ministers doing shoddy jobs !

 

[Leckmichamarsch]

Simple reason which LKY does not understand is that pple who chose public office are power motivated NOT reward motivated........ LKY fucked it up n his son followed thru as also self interests are involved

Both father n son n the holy Goh used money to bait talent most of whom are really money grabber first and desire to serve sgians secondary
Datz why we are so fucked up with so many policies gone wrong\

Shit in shit out/////////////// but nite soil men get paid millions






s

 

[laksaboy]

Simple reason which LKY does not understand is that pple who chose public office are power motivated NOT reward motivated........ LKY fucked it up n his son followed thru as also self interests are involved

Henry Kissinger said power is the greatest aphrodisiac, and I think he's not too far from the truth.

 

[jw5]

The Swedish ministar has not taken into consideration the public sector people who kpkb all day long what they would have earned if they had remained in the private sector.

 

[Cerebral]

The Swedish ministar has not taken into consideration the public sector people who kpkb all day long what they would have earned if they had remained in the private sector.

And they should. Please do not enter public service if you have these thoughts. By the way, i do not refer to rank and file

 

[Narong Wongwan]

Sweden is a real first world country parliament.
Sinkieland only has a pseudo parliament as front to a dictatorial monarchy.
That's the difference