Updated: 10/17/2012 03:31 | By Channel NewsAsia

Average of S$764m paid to pensioners every year: DPM Teo

SINGAPORE: Deputy Prime Minister Teo Chee Hean has revealed the amount paid out to government pensioners every year for the past ten years.

The total annual payouts range from S$699 million (2010) to S$884 million (2003), working out to about S$764 million a year on average, from 2002 to 2011. In 2011, the figure was S$715 million.

In a written parliamentary reply to a question by Nominated MP Assistant Professor Eugene Tan, Mr Teo said there are approximately 33,000 pensioners drawing a pension from the government as at June 30.

Asst Prof Tan had asked if the government will consider raising the gross pension ceiling for those with low pensions.

The gross monthly pension ceiling was last revised to S$1,190 in April 2011.

Mr Teo said the government will carry out regular reviews of the ceiling and revise it when necessary.

—CNA/ac