Singapore President's annual salary tops S$4.2 million

President Nathan, shaking hands with Philippine president Aquino, now earns S$4.2 million a year (Reuters photo)
President Nathan, shaking hands with Philippine president Aquino, now earns S$4.2 million a year (Reuters photo)

The Singapore Parliament has approved a 26 per cent increase in the President’s salary as well as higher salaries for his personal staff for the fiscal year of 2010.

The President’s salary, also known as the Privy Purse, is now set at S$4,267,500, up from $3,376,800.

The amount for staff salaries is increased to $4,532,400 or $473,600 higher than that of the year before.

The President’s entertainment allowance remains at $73,000.

The revision is part of an overall increase in the manpower expenditure for the Office of the Istana, which is staffed by 62 personnel.

On Thursday, Finance Minister Tharman Shanmugaratnam, who proposed that the House support the change, said this caters for the “recruitment of an additional staff officer to support the work of the Council of Presidential Advisers and a butler manager to meet increased demand for butler services at the Istana, and to meet the higher variable payments on account of a strong economic growth”.

The President’s salary rises in tandem with that of political, judicial and civil service appointment holders.

However, the expenditure for Istana expenses was cut by $25,300 to $2,068,300 to “reflect savings” on these and other ad hoc spending, said Mr Tharman. The total sum allocated for the Civil List is $11.6 million.

For the next financial year, Mr Tharman said this overall sum will remain unchanged, but the allocation for the President’s salary and allowances will drop to $3,782,000 due to lower variable payments anticipated.

An extra $610,000 will be set aside for the Presidential Swearing-in Ceremony which is likely to be in late August.

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