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Among the recommendations made are the Prime Minister's annual salary to be cut by 36 per cent, to S$2.2 million.

The annual salary of ministers will be cut by 37 per cent, to S$1.1 million.

The President's annual salary is reduced by 51 per cent, to S$1.54 million.

The Speaker of Parliament will see the biggest percentage cut of 53 per cent, to S$550,000.

The Committee also recommended changes to bonus payments, pensions and benefits under the new pay structure.

The new salary will be backdated to 21 May last year, when the new government took office.

MPs will debate the report when Parliament sits for a second session 16 January.