Remuneration

Disclosure of remuneration as required by section 29QB of the Superannuation Industry (Supervision) Act

Remuneration of Directors and Executive Officers

This remuneration disclosure covers the basis of remuneration of Directors and Executive Officers of REI Super.

The Board has implemented a process for the periodic review and evaluation of its performance and the performance of its committees, individual Directors and Executive Officers. 

Director remuneration consists of Board fees, superannuation guarantee contributions and the reimbursement of reasonable expenses. The fees reflect the demands on and responsibilities of those Directors. Directors are not paid separate fees for their participation in board committees.

Executive Officers’ remuneration comprises salaries, superannuation guarantee contributions, and in the case of the Chief Executive Officer, a short-term incentive payment and the reimbursement of reasonable expenses. The Chief Executive Officer is responsible for determining the remuneration of Executive Officers. The Board reviews and approves the remuneration of the Chief Executive Officer, Directors and Executives, on the recommendation of the Governance Remuneration & Nomination Committee.

Director and Executive Officer remuneration, including the Chief Executive Officer’s, is reviewed annually. Remuneration levels are benchmarked against independent external sources. The Directors and Executive Officers are paid in accordance with the Fund’s Remuneration Policy. In the case of Directors fees, they may be paid to the Director or salary sacrificed as superannuation contributions.

The Chief Executive Officer, Jarrod Coysh, is potentially eligible to receive a short term incentive payment of up to 20% of annual salary if individual KPIs are attained for the current year. The minimum potential value of this annual amount is zero.

Terms of employment and remuneration are reflected in individual employment contracts with each Executive Officer. Contracts are entered into on commencement in the position as an Executive Officer with REI Super. Terms of employment for Executive officers, where applicable, also include long term employee benefits such as applicable long service leave consistent with state legislation.

The following table sets out the detailed remuneration paid and payable to each Director and Executive Officer for the financial years ending 30 June 2019 and 2020.

Year ended 30 June 2020

Title

Name

Fees / Salary

Super

STI*

Total
Remuneration

Chairperson

Claire Higgins

85,183

8,092

0

93,275

Independent Director

Emery Feyzney

59,992

5,699

0

65,692

Independent Director Michelle Beveridge  63,156  5,999  0  69,156

Member

Elected Director

Ian Armstrong

30,188

15,088

0

45,276

Member

Elected Director

Richard Simpson

31,018

2,946

0

33,965

Member

Elected Director

John Bailey1

13,782

1,309

0

15,092

Member

Elected Director

Jonathan Blocksidge

39,420

5,860

0

45,280

Member

Elected Director

Neville Pozzi

41,348

3,928

0

45,276

Member

Elected Director

Greg Paterson

34,148

11,128

0

45,276

Member

Elected Director

Elizabeth Stratfold2

0

15,092

0

15,092

Member

Elected Director

Diane Helmich

41,348

3,928

0

45,276

Chief Executive

Officer

Jarrod Coysh  327,447 23,303 55,407  406,157

Chief Executive

Officer

Mal Smith3

179,479

8,333

0

187,812

Group Executive

Governance

Risk & Compliance

Lisa Saunders

162,505

0

0

162,505

Group Executive

Member Services

 Kimbra Jones 127,535 12,115  0  139,651

General Manager -

Investment Governance

& Operations

Angelos Siapkas

237,444

22,557

32,576

292,577

 General Manager -

Marketing & Growth

 Andrew Tait  220,537 18,749  14,885  254,173

Year ended 30 June 2019

Title

Name

Fees / Salary

Super

STI*

Total
Remuneration

Chairperson

Claire Higgins

74,268

16,910

0

91,178

Independent Director

Emery Feyzney

58,644

5,572

0

64,216

Independent Director Michelle Beveridge 52,776 5,014 0 57,790

Member

Elected Director

Ian Armstrong

29,268

15,001

0

44,269

Member

Elected Director

John Bailey1

40,428

3,841

0

44,269

Member

Elected Director

Jonathan Blocksidge

38,496

5,773

0

44,269

Member

Elected Director

Neville Pozzi

40,428

3,841

0

44,269

Member

Elected Director

Greg Paterson

32,228

12,041

0

44,269

Member

Elected Director

Elizabeth Stratfold2

26,952

17,317

0

44,269

Member

Elected Director

Diane Helmich

40,428

3,841

0

44,269

Chief Executive

Officer

Mal Smith3

287,656

24,996

0

312,652

Risk & Compliance Manager

Lisa Saunders

126,004

0

0

126,004

Marketing &

Communication

Consultant

Hilary Spear4

154,233

14,644

0

168,795

General Manager -

Investment Governance

& Operations

Angelos Siapkas

220,233

20,922

0

241,155

 

1Retired 30 September 2019

2Resigned 14 October 2019 

3Resigned 31 May 2019

4Resigned 21 May 2019

*Short term incentive