SINGAPORE – Singapore will raise the monthly allowance for Members of Parliament (MPs) to S$18,500 ($14,603) from S$13,750  from Oct 15, while political officeholders will receive a one-off salary adjustment of up to 9 percent, Prime Minister Lawrence Wong said on Tuesday.

He said in parliament that the changes were necessary to ensure Singapore could continue attracting capable people into political leadership, particularly from the private sector, where senior executives can earn more significantly.

The changes follow recommendations by an independent committee reviewing the salary framework for political appointment holders and MPs.

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Wong said the government accepted the recommendations but will phase in the proposed salary benchmarks rather than implement them immediately.

The committee recommended raising the benchmark salary for a Ministerial Grade 4, a senior public-sector pay grade, from S$1.1 million to S$1.8 million.

According to Wong, ministers and other political officeholders will initially receive an adjustment of up to 9 percent, depending on factors including individual performance and when their salaries were last revised.