President Salary Increase To Over 4 Million Dollars A Year
Thursday, 10th March 2011
The President of Singapore salary, also known as the Privy Purse, is now set at SGD S$4,267,500 (USD 3.5 Million/Year) , an increase of S$890,700 from S$3,376,800 a year earlier - a 20.8% quantum jump. He also gets an entertainment allowance of S$73,000.
On top of that, the 62 personnel in the Office of the Istana will also get a pay rise. Also more then 11 Million Dollars will be set aside for the enhancement of IT systems, additional renovation works for meeting cum training areas and the replacement of a new official car. A new butler manager will be recruited to meet increased demand for butler services.
S.R. Nathan is the current President of Singapore has be presiding for the last 12 years from 1999. President S.R. Nathan now makes over 7 times more a year than US President B. Obama.
Thank you people of Singapore! I am so touched.
Flickr Photo Credit: Todd Beltz Photography
His term is due in August 2011 and this job is open to: Any citizen of Singapore; Must not be less than 45 years of age; Name must appear in a current register of electors; Must be a person of integrity, good character and reputation. Must not be a member of any political party on the date of his nomination for election.
The above will open the flood gate to any Tom, Dick or Harry. But the following requirement will exclude 99.9999% of Singaporeans. Candidate: Must have for a period of not less than three years held office as Minister, Chief Justice, Speaker, Attorney-General, Chairman of the Public Service Commission, Auditor-General, Accountant-General or Permanent Secretary; as chairman or chief executive officer (CEO) of the Central Provident Fund Board, the Housing and Development Board, the Jurong Town Corporation or the Monetary Authority of Singapore; as chairman of the board of directors or CEO of a company incorporated or registered under the Companies Act with a paid-up capital of at least $100 million or its equivalent in foreign currency.
The strictness of the qualifications led to the 1999 and 2005 elections being walkovers as S.R. Nathan was the only qualified candidate on nomination day.
Anyway, congrats to the lucky soul that win this race. Not only you stand to pocket more than 25 Million Dollars (tax free) during your terms in office, your people have set aside half a million dollars to celebrate your win.