Saturday, January 24, 2015

Pension for Pastors (2)

I reckon we need RM2million or RM2.5million to kick off if we are to implement a pension system for pastors. Perhaps a flat rate is fairer to all. All get RM500.00 per month irrespective of final salary before retirement. If 50 pastors are eligible, that makes RM25,000 per month and RM300,000 per year.
In a few years' time, there could be 100 retired pastors who are eligible and the bill will get larger each year and then it should stabilize after a while. In Singaporean terms, it is a mere one million S$ (2.71 RM today's rates), so not a big deal.

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