$28 MILLIONS for MBT, WKS, GY, GCK, MM

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Coffeeshop Chit Chat - $28 MILLIONS for MBT, WKS, GY, GCK, MM.[/TD]
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[TD="class: msgF, width: 1%, align: right"]From: [/TD]
[TD="class: msgFname, width: 68%"] KEYCHIU <NOBR></NOBR>[/TD]
[TD="class: msgDate, width: 30%, align: right"]Aug-2 5:19 pm [/TD]

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[TD="class: msgTname, width: 68%"] ALL <NOBR></NOBR>[/TD]
[TD="class: msgNum, align: right"](1 of 21) [/TD]

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[TD="class: wintiny, align: right"]54921.1 [/TD]
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[TD="class: msgtxt"]MBT, GY, WKS etc will get $28 millions. MM, GCT $36 Millions!
The PAPPIES' pensions can be commutated and be paid in 1 lump sum ( http://statutes.agc.gov.sg ).

This means that it is paid in 1 lump sum instead of monthly payments for life. The lump sum is equivalent to 175.14 months of pension, i.e. 14.6 years of pension. It doesn't matter that the minister asks for it because he has terminal cancer and has 3 months to live. He will get 14.6 years of pension paid to him in 1 go, and it will be tax free.

If MM's pension is based on 2.5 million (conservative estimate), his commutated pension is $36.5 million. Can buy a GCB with it, without any bank loan!
MBT, GY, WKS etc will get $28 millions. GKT $36 Millions!

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