The salary of a full-time Speaker is pegged to the MR4 benchmark. It includes the 13th month bonus and AVC, but excludes the performance bonus and National Bonus. The allowance of a full-time Deputy Speaker is pegged to 15 per cent of a full-time Speaker. Parliament currently applies a 50 per cent discount to both positions as they are not full-time positions. This means that the Speaker receives an annual salary of $550,000 which is a 53 per cent cut from 2010, while the annual salary of the Deputy Speaker is $82,500, a 15 per cent reduction from 2010. The pension scheme for the Speaker was removed with effect from 21 May 2011.