Has anyone seen this yet? Does this mean that all pensions will be scrapped?
Scrapping pensions of political office-holders
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Source
Straits Times
Date
14 Aug 2012
TWO new Bills were introduced to pave the way for the scrapping of pensions for the President, political office-holders and MPs, in line with recommendations made by a committee set up to review political salaries last year.
Deputy Prime Minister Teo Chee Hean yesterday introduced the Bills to amend the Parliamentary Pensions Act and Civil List and Pension Act, which provide for the payment of pensions.
Under current law, political office-holders from parliamentary secretaries to the prime minister can receive pensions if they serve for at least eight years and are 50 or older when they step down. MPs elected before January 1995 have also been eligible for pensions.
Under the proposed changes, eligible MPs and political office-holders will no longer accrue pensions from May 21 last year, the day Prime Minister Lee Hsien Loong announced the appointment of a committee to review political salaries.
The scrapping of pensions, and substantial salary cuts, were among the committee's recommendations.
These were debated in Parliament and accepted by the Government in January.
Though the Civil List and Pension Act allows Parliament to set a pension for the president, this has never been exercised and no president has ever received a pension. The changes will remove this provision altogether.
Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction
Scrapping pensions of political office-holders
Share on facebook Share on twitter Share on email Share on print
Source
Straits Times
Date
14 Aug 2012
TWO new Bills were introduced to pave the way for the scrapping of pensions for the President, political office-holders and MPs, in line with recommendations made by a committee set up to review political salaries last year.
Deputy Prime Minister Teo Chee Hean yesterday introduced the Bills to amend the Parliamentary Pensions Act and Civil List and Pension Act, which provide for the payment of pensions.
Under current law, political office-holders from parliamentary secretaries to the prime minister can receive pensions if they serve for at least eight years and are 50 or older when they step down. MPs elected before January 1995 have also been eligible for pensions.
Under the proposed changes, eligible MPs and political office-holders will no longer accrue pensions from May 21 last year, the day Prime Minister Lee Hsien Loong announced the appointment of a committee to review political salaries.
The scrapping of pensions, and substantial salary cuts, were among the committee's recommendations.
These were debated in Parliament and accepted by the Government in January.
Though the Civil List and Pension Act allows Parliament to set a pension for the president, this has never been exercised and no president has ever received a pension. The changes will remove this provision altogether.
Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction
