Dec 12 2007, 11:10 PM
QUOTE(bbmars @ Dec 11 2007, 05:26 PM)
Thank U.... friend
Added on December 11, 2007, 5:52 pm
Month variable component ? Not all companies following this practice, especially the smaller firms. This was started by SG Gov and all Gov sector practice this. During the last recession where many companies gone busted and some retrenched workers, some pay cut... which brought up alot of unhappiness among workers and thus affected their morale. So the Gov decision was to introduce teh variable component where by it certain % of your salary besides the fixed income will various according to how the company perform, during good times pay will be as usual. However, during bad times, this variable component will the part of your salary that may be trimed to lower amount. In this way, it becomes flexible and workers in the scheme are aware and won't feel the pinch and employer can declare when economy is bad. Its more pyschological, mind game and companies adjsut accordingly rather than 1st thing, think of retrenching workers or PAY CUT, which is a bad name itself.
If you are new to the company which embraces this practice, you would hardly feel the crunch as you are already been told when you join. Its the those existing staff will face the pressure switching from old to new switch, of course with adjustment before switching over. Of course, not forgetting, the extra bonuses pay out during good times. I am not sure how many private companies practices this. But Gov related companies usually do.. like PSA, workers took quite a hefty cut and then last few years, due to good economy, they got something like 6-9 months bonuses pay back for standing along with the management, rather than choose retrenchement, which left them with no job and worse, like not able or even harder to find a job especially for older/elder workers, which is not a good solution..
Just some of the problems faced in the last recession, therefore, this variable component is something being look upon even by the west and EU... but... again.. I think only SG can implement such thing successfully.
dude i heard got some big rally coming up.. not sure when but just heard as word of mouth from a friend.. aiks... you can still come Msia but stay at hotels in Selangor area and avoid city ? Added on December 11, 2007, 5:52 pm
Month variable component ? Not all companies following this practice, especially the smaller firms. This was started by SG Gov and all Gov sector practice this. During the last recession where many companies gone busted and some retrenched workers, some pay cut... which brought up alot of unhappiness among workers and thus affected their morale. So the Gov decision was to introduce teh variable component where by it certain % of your salary besides the fixed income will various according to how the company perform, during good times pay will be as usual. However, during bad times, this variable component will the part of your salary that may be trimed to lower amount. In this way, it becomes flexible and workers in the scheme are aware and won't feel the pinch and employer can declare when economy is bad. Its more pyschological, mind game and companies adjsut accordingly rather than 1st thing, think of retrenching workers or PAY CUT, which is a bad name itself.
If you are new to the company which embraces this practice, you would hardly feel the crunch as you are already been told when you join. Its the those existing staff will face the pressure switching from old to new switch, of course with adjustment before switching over. Of course, not forgetting, the extra bonuses pay out during good times. I am not sure how many private companies practices this. But Gov related companies usually do.. like PSA, workers took quite a hefty cut and then last few years, due to good economy, they got something like 6-9 months bonuses pay back for standing along with the management, rather than choose retrenchement, which left them with no job and worse, like not able or even harder to find a job especially for older/elder workers, which is not a good solution..
Just some of the problems faced in the last recession, therefore, this variable component is something being look upon even by the west and EU... but... again.. I think only SG can implement such thing successfully.
Added on December 12, 2007, 11:11 pm
QUOTE(darrenboy @ Dec 12 2007, 10:59 PM)
ok, understd what you're getting at. But let's find out from bbmars or anyone how is the return like for CPF ? How many % are the contributors getting annually? If it is huge, then leaving it at Sgp till our retirement, may be alright too. It depends.
So, does anyone know how much returns for CPF in the past?
some employers pay back the CPF to staff working with employment passes So, does anyone know how much returns for CPF in the past?
This post has been edited by cktwai: Dec 12 2007, 11:11 PM
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