Advanced Search Advanced Search Close Panel All of these words This exact phrase Any of these words Without these words Search within: PSDWhole of Government Expand All Collapse All Remuneration for Ministers and Members of ParliamentRemuneration of the Prime Minister, the President, the Speaker and Deputy Speaker 1. What is the Prime Minister’s annual salary? What are the components? The Prime Minister receives a total annual salary package (inclusive of 13th month bonus, Annual Variable Component and National Bonus) that is twice the MR4 benchmark, or $2.2m, which represents a reduction of 36% from 2010 levels. As there is no one to decide on the annual performance bonus for the PM, the PM’s bonus will be based only on the National Bonus. Pensions for political appointment holders, including the Prime Minister, has been removed with effect from 21 May 2011. The Prime Minister is on the Medisave-cum-Subsidised Outpatient (MSO) scheme. He is accorded the use of an official car that is subject to tax, and receive no perks. 2. What is the President’s annual salary? What are the components? The President is Head of State and has significant custodial powers. However, unlike the Prime Minister, he/she does not set national policies and does not have direct executive responsibility for governing the country, except as it relates to his/her custodial role. The President is paid the same monthly salary as the Prime Minister, with 13th month bonus and AVC, but without the Performance Bonus and National Bonus. This gives a salary of $1.54m, which represents a reduction of 51% from 2010 levels. The possibility of a pension for the President was previously provided for under the Civil List and Pension Act. This provision has never been exercised and no President has ever received a State pension. This provision has been removed for the President, in line with the removal of pensions for political appointment holders. The President is on the Medisave-cum-Subsidised Outpatient (MSO) scheme. He/She is accorded the use of an official car that is subject to tax, and receive no perks. 3. What is the Speaker’s annual salary? What is the Deputy Speaker’s annual allowance? What are the components? The salary of a full-time Speaker is pegged to the MR4 benchmark and structured as a 14-month package, i.e. it includes the 13th month bonus and Annual Variable Component (AVC) but excludes Performance Bonus and National Bonus. The allowance of a full-time Deputy Speaker is pegged to 15% of a full-time Speaker. Parliament currently applies a 50% discount to both positions as they are not full-time positions. This means that the Speaker’s annual salary package will be $550,000, a 53% cut from the 2010 salary, while the annual allowance of the Deputy Speaker will be $82,500, a 15% drop from the 2010 allowance.The pension scheme has been removed for the Speaker with effect from 21 May 2011.The Speaker and the Deputy Speaker are on the Medisave-cum-Subsidised Outpatient (MSO) scheme and receive no perks. The Speaker is accorded the use of an official car that is subject to tax. If you are unable to find an answer to your query, please submit your Feedback to let us know how we can help you.