No more pension for ministers and presidents
Posted by temasektimes on September 10, 2012
The move came after a review of ministerial salaries which recommended that the pension scheme be scrapped for office holders and Members of Parliament (MPs).
Under the Parliamentary Pensions Act, political office holders who have served at least eight years are eligible for a pension.
However, from now onward, office holders appointed on and after 21 May 2011, when the new government took office, will not receive any pension.
Those appointed before 21 May will have their pensions frozen and be eligible only for pensions accrued up to 20 May 2011.
Besides former ministers, former presidents can no longer receive pension with the passing of the Civil List Pension Amendment Bill, which paves the way for the pension scheme to be scrapped for former presidents.
The Constitution has provided for a pension to be given to a former president, at a sum to be decided by Parliament.