SINGAPORE- Mr Peter Seah, chairman of DBS Group Holdings, has been appointed the new head of the National Wages Council (NWC), succeeding Professor Lim Pin, who chaired the Council from 2001 to 2014, said the Manpower Ministry on Monday.
In a statement, the ministry said a key milestone achieved during Prof Lim's tenure was getting companies to adopt performance-driven pay packages, which helped to protect the viability of businesses and jobs.
Another was the introduction in 2012 of guidelines for minimum wage increases for low-wage workers.
" This effort has contributed to the strong wage growth of low-wage workers in recent years," said MOM.
Thanking Prof Lim for his contributions, Minister for Manpower Tan Chuan-Jin said: "NWC continues to play an important role in guiding sustainable wage adjustments for Singaporeans."
Mr Tan added that he is confident of Mr Seah's leadership.
Mr Seah served as deputy chairman of NWC from 2014 to 2015. He is currently chairman of DBS Group Holdings and DBS Bank as well as the chair of Singapore Health Services Pte Ltd and LaSalle College of the Arts.
The NWC will convene in April and May this year to develop its annual wage and wage-related guidelines.
Members of the public can provide feedback on NWC's recommendations by May 4 through mail or e-mail.
Address: The Secretary National Wages Council c/o Manpower Planning and Policy Division 18 Havelock Road #07-01 Singapore 059764