Under the Singapore Parliamentary Pensions Act, political office holders who served at least eight years are eligible for a pension.
The pension amount is dependent on the length of service of the office holder. The maximum annual pension is about 11% of an office holder’s salary prior to retirement.
A bill was passed on Monday to abolish this.
Office holders appointed on and after 21 May 2011, when the new government took office, will not receive any pension.
Those appointed before 21 May will have their pensions frozen and be eligible only for pensions accrued up to 20 May 2011.
The change affects all office holders, from parliamentary secretaries all the way to the prime minister.
MPs who supported the bill said that being a politician cannot be seen as a job or a career promotion.
Holland-Bukit Timah GRC MP Christopher de Souza said: “I believe most, if not all, of us present at today’s debate would agree with me that political office is both a calling (and a passion).
“Those who want to serve must have that sense of duty and, beyond that, passion to the nation, as well as a desire to contribute to the public good of Singapore.