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 2021 and 2022.
Year ended 30 June 2023
Title
| Name | Fees / Salary | Super | STI* | Total Remuneration |
|---|
| Chairperson | Claire Higgins | 92,387 | 9.701 | 0 | 102,088 |
| Independent Director | Craig Dunstan1 | 65,048 | 6,830 | 0 | 71,878 |
| Independent Director | Geoffrey Peck1 | 65,048
| 6,830 | 0 | 71,878 |
Member
Elected Director | Cassandra Mason2 | 45,251 | 4,751 | 0 | 50,002 |
Member
Elected Director | Richard Simpson | 45,251 | 4,751 | 0 | 50,002 |
Member
Elected Director | Jonathan Blocksidge
| 45,251
| 4,751 | 0 | 50,002 |
Member
Elected Director | Nathan Jones2
| 45,251 | 4,751 | 0 | 50,002 |
Member
Elected Director | Leanne Pilkington2 | 45,251 | 4,751 | 0 | 50,002 |
Member
Elected Director | Dianne Helmich | 45,251 | 4,751 | 0 | 50,002 |
| Chief Executive Officer | Jarrod Coysh | 436,463 | 25,294 | 87,577 | 549,335 |
Group Executive Governance
Risk &
Compliance | Lisa Saunders
| 230,969 | 25,648 | 13,500 | 270,117 |
Group Executive Member Services | Kimbra Jones | 163,083 | 18,541 | 13,500 | 195,124 |
Group Executive Investment Strategy & Operations | Angelos Siapkas | 347,500 | 25,292 | 45,200 | 417,992 |
Group Executive Marketing & Growth | Andrew Tait | 347,500 | 25,296 | 45,200 | 417,996 |
1Appointed 1 April 2022
2Appointed 1 October 2021
*Short term incentive
Year ended 30 June 2022
Title
| Name | Fees / Salary | Super | STI* | Total Remuneration |
|---|
| Chairperson | Claire Higgins | 8,9188 | 8,924 | 0 | 98,111 |
| Independent Director | Craig Dunstan1 | 15,682 | 1,568 | 0 | 17,250 |
| Independent Director | Geoffrey Peck1 | 15,682 | 1,568 | 0 | 17,250 |
| Independent Director | Michelle Beveridge 4 | 24,997 | 3,007 | 0 | 28,004 |
| Independent Director | Emery Feyzney3 | 15,682 | 1,568 | 0 | 17,250 |
Member
Elected Director | Cassandra Mason 2 | 32,727 | 3,273 | 0 | 36,000 |
Member
Elected Director | Richard Simpson | 43,683 | 4,368 | 0 | 48,052 |
Member
Elected Director | Jonathan Blocksidge
| 43,683
| 5,495 | 0 | 49,179 |
Member
Elected Director | Nathan Jones2 | 32,727 | 3,273 | 0 | 36,000 |
Member
Elected Director | Leanne Pilkington2 | 32,727 | 3,273 | 0 | 36,000 |
Member
Elected Director | Dianne Helmich | 43,683 | 4,368 | 0 | 48,052 |
Member
Elected Director | Ian Armstrong5 | 10,954 | 3,885 | 0 | 14,839 |
Member
Elected Director | Greg Paterson5 | 10,956 | 2,896 | 0 | 13,852 |
Member
Elected Director | Neville Pozzi5 | 10,956 | 1,096 | 0 | 12,052 |
| Chief Executive Officer | Jarrod Coysh | 380,600 | 25,233 | 88,000 | 493,833 |
Group Executive Governance
Risk &
Compliance | Lisa Saunders
| 222,272 | 22,273 | 0 | 245,000 |
Group Executive Member Services | Kimbra Jones | 154,545 | 16,455 | 10,000 | 181,000 |
Group Executive Investment Strategy & Operations | Angelos Siapkas | 329,500 | 25,233 | 44,000 | 398,733 |
Group Executive Marketing & Growth | Andrew Tait | 302,500 | 25,235 | 20,900 | 348,635 |
1 Appointed 1 April 2022
2 Appointed 1 October 2021
3 Resigned 31 March 2022
4 Resigned 2 September 2021
5 Resigned 30 September 2021
*Short term incentive