SINGAPORE : Teachers have welcomed the Education Ministry’s announcement of better pay and career development for them.

Some also say it is a timely move.

The Singapore Teachers’ Union says it is happy the government has taken a holistic approach towards making the teaching profession more attractive.

In a statement, it says, given the robust economic growth and stiff competition for talent, the overall remuneration package for teachers must stay competitive and keep pace with the private sector.

No Comments | Post a Comment

SINGAPORE: The Ministry of Education (MOE) announced at the Principals’ Appointment Ceremony Friday that principals and teachers will get higher pay packages starting April 2008.

Under a new initiative called Grow 2.0, the annual package of good performing teachers will be increased by up to 12%, while that for better performers will be increased by up to 18%.

Costing the government S$380 million per year, this new pay and career package is aimed at making the teaching profession more attractive.

Under the new scheme, teachers will receive a one-off salary increment of up to four per cent.

They will also be placed on a salary range system with merit increments that are based on one’s performance, potential and market wage movements. This will replace the current salary scale system with fixed annual increments.

Under the new initiative, there will be higher performance bonuses and sharper differentiation in payouts based on performance. Teachers will receive performance bonuses ranging from one month to 2.25 months.

No Comments | Post a Comment

SINGAPORE : Half of Singapore’s workforce are not willing to work beyond the age of 60, according to a survey conducted by The Nielsen Company.

The survey showed that the 550 working adults polled had different ideas about what the ideal retirement age should be.

But only 5% said they wish to remain in the workforce till they’re 65.

10% said they would never want to retire while 36% said they would like to retire by 55.

Another interesting find from the survey was that 54% of the respondents said they feel that they need over S$1 million to retire comfortably.

No Comments | Post a Comment

SINGAPORE: Companies must always stick to the tenet of productivity leading wage increases – a point which the National Wages Council (NWC) has always emphasised when issuing their annual wage guidelines.

Singapore’s labour market this year is set to end on a positive note and employers are optimistic about the new year.

Stephen Lee, president of the Singapore National Employers Federation, said: “We feel job creation will continue to be strong because of the few mega projects and they are all service projects and these service projects need a large number of service people. Our challenge is really to churn out enough quality service people to fill these jobs.”

Nonetheless, the labour movement has urged Singaporeans to be prepared for any eventuality.

Heng Chee How, deputy secretary-general of NTUC, said: “We must always look at the boom as a window of opportunity during which we prepare ourselves for the next downturn in the economy, not that we wish for one, but for sure it will come. The question is what must be done.”

No Comments | Post a Comment