2024 year-end bonus for civil servants takes into account expected GDP growth
With the year-end holiday season approaching, civil servants in Singapore can expect to enjoy a 1.05-month year-end bonus.
Junior-grade officers will also get an additional S$600, said the Public Service Division (PSD) in a press release on Monday (25 Nov).
All civil servants eligible for year-end bonus
PSD said all civil servants will be eligible for the year-end Annual Variable Component (AVC) of 1.05 months.
Some of them will also receive a one-time payment on top of that.
Specifically, those in grades equivalent to MX15 and MX16, and those in the Operations Support Scheme (OSS), will receive S$600 more.
This is in line with National Wages Council (NWC) recommendations to uplift the wages of lower-wage workers.
The Government will also continue to pay the Non-Pensionable Annual Allowance of one month — also known as the “13th-month bonus” — to all civil servants.
GDP growth forecast of around 3.5%
PSD said the quantum of year-end AVC to be disbursed considered Singapore’s Gross Domestic Product (GDP) growth in 2024.
The Republic’s GDP is forecast to grow “around 3.5%” — upgraded by the Ministry of Trade and Industry from “2.0% to 3.0%”, PSD noted, adding:
The assessment takes into consideration the better-than-expected performance of the Singapore economy in the first three quarters of the year, as well as the latest global and domestic economic situations.
According to the Ministry of Manpower, total employment continued to expand even while uncertainty in the global economy remained. Unemployment rates and retrenchments also “remained low” amid a tight labour market.
NWC guidelines for 2024/2025 were also taken into account, and the decision was made in close consultation with public-sector unions, it added.
Civil servants getting 1.5 months’ bonus for 2024
In June, PSD announced a 0.45-month mid-year bonus for civil servants, with junior officers getting up to S$250 more.
That means civil servants will receive a total of 1.5 months’ bonus for the whole year.
Junior officers would accordingly get up to S$850 in one-off payment for 2024.
This year’s bonus is more than the amount disbursed last year, when civil servants received 0.9 months’ bonus for the whole of 2023.
Also read: S’pore Civil Servants To Get 0.6-Month Year-End Bonus, Junior Officers Will Receive Up To S$800 More
S’pore Civil Servants To Get 0.6-Month Year-End Bonus, Junior Officers Will Receive Up To S$800 More
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
