Lawrence Wong announced a significant salary increase for Singapore's ministers, with his own pay rising from SG$2.2 million to SG$3.6 million. This adjustment comes after a 15-year freeze and positions Wong's compensation as more than four times that of the Swiss president and seven times that of the U.S. president.
The new salary structure is linked to the private sector, with the entry-level ministerial salary, known as MR4, increasing from $1.1 million to $1.8 million. Wong emphasized that while existing ministers will receive one-off adjustments of up to 9%, the full increase to the new benchmark will depend on individual performance.
He acknowledged the sensitivity surrounding political salaries and the scrutiny from the public, asserting the importance of transparency in the compensation system. Wong's commitment to donate his salary increase to charity for five years, contingent on his tenure, adds a philanthropic dimension to the announcement