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 2020 and 2021.

Year ended 30 June 2021

 Title
 Name  Fees / Salary  Super  STI*  Total Remuneration
Chairperson Claire Higgins

 85,183

 8,092  0  93,275
Independent Director Emery Feyzney 59,993 5,699 0 65,692
Independent Director Michelle Beveridge 56,832
5,399 0 62,231

Member
Elected Director

Ian Armstrong 41,348 3,928 0 45,276
Member
Elected Director
Richard Simpson 41,358 3,929 45,287

Member
Elected Director

Jonathan Blocksidge
41,352
3,928 0 45,280
Member
Elected Director
Neville Pozzi
 41,348  3,928  0 45,276
Member
Elected Director
Greg Paterson   41,348  3,928  0 45,276

Member
Elected Director

Dianne Helmich  41,348  3,928  0 45,276
Chief Executive Officer Jarrod Coysh 377,418 25,000 55,407 457,825

Group Executive

Governance
Risk &
Compliance

Lisa Saunders
186,845  0  0 186,845

Group Executive

Member Services

Kimbra Jones

132,078

14,040 1,672 147,790

Group Executive

Investment Strategy & Operations

Angelos Siapkas 300,990 24,592 34,642 360,224

Group Executive

Marketing & Growth

Andrew Tait 292,550 25,000 16,916
334,466

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

Dianne 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

1Retired 30 September 2019

2Resigned 14 October 2019 

3Resigned 31 May 2019

*Short term incentive