Tuesday, March 15, 2011

MM Lee's MP allowance = S$9m a year job (excl GDP bonus)?

Here's a letter I read on a forum:

11 March 2011

To: LKY
cc: PM Lee

Now I know why the MP's job is so lucrative.

For an average PAP MP, he or she probably spends an average of 4 hours per week (or less) doing his/her part-time MP job (MTP, attend Parliament, etc). This is equivalent to 10% of a full-time job (assuming a 40-hour week).

(Note: There is no shortage of "free" volunteers to do the dirty work like letter-writing, research, etc...)

So, for spending just 10% of time to get $225,000/year salary, this is equivalent to a $2,250,000/year job - even more than a minister's full-time salary! And to think that Singapore ministers' salaries are already the highest in the world, now our MPs are even better paid!

On top of that, they are also entitled to the 8-month GDP bonus! (".... A gross domestic product (GDP) bonus payable to civil servants was also extended to MPs to link their annual remuneration to the state of the economy.)

So, can I safely assume our MPs are indeed the highest paid MPs in the world?

Of course, for you, MM Lee, since you are practically an absent MP in Tg Pagar, can I assume you average an hour a week (vs the 4 hours of your PAP MPs), so your MP allowance is equivalent to a $9,000,000 a year job?

Rgds

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