Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Remuneration for CEO of Guardians of NZ Superannuation

17 October 2017

Remuneration for CEO of Guardians of New Zealand Superannuation

Statement from State Services Commissioner Peter Hughes

The Guardians of New Zealand Superannuation, a Crown Entity operating as part of the State Services, has today publicly released information on its decision to increase the Chief Executive’s 2016/17 remuneration.

Crown Entity boards make decisions on the remuneration of their Chief Executives.

The State Services Commission provides annual guidance on remuneration for Crown Entity Chief Executives and boards are required to consult me before making final decisions. This guidance is based on the Government’s pay expectations for the State Services.

My expectation on pay for Public Service leaders is one of fairness. It’s a balance between being fair to individual chief executives, recognising the jobs they do, and being fair to the taxpayers who pay the bill.

In this particular case, my advice to the board was that an increase of the size proposed was not justified. The board made its own decision and did not follow my advice. I acknowledge that this year’s increase was closer to recommended levels than the previous year’s increase in total potential remuneration of 35.6 per cent.

I expect public transparency around the remuneration for public sector chief executives and that includes Crown Entities. Boards of Crown Entities are responsible for and accountable for their decisions. When board decisions on chief executive remuneration are not consistent with my advice I will ensure that it is transparently recorded in the annual disclosure of State sector chief executive remuneration. This will commence with this year’s State Sector Senior Pay report.

Because the Guardians of New Zealand Superannuation has decided to make this matter public now, before the annual disclosure of chief executive remuneration, I have today released correspondence that shows the Commission did not support the board’s decision.

I do not accept the argument that Crown Entities such as Guardians of New Zealand Superannuation should be able to make decisions free of any public sector oversight or accountability. This is a public agency investing public money for the good of the public. And the Chief Executive’s remuneration is paid by taxpayers. Crown Entities have a strong element of public service attached to their work and executives should reasonably expect to earn less than in a private sector company.

Related documents:

Guardians of Superannuation Annual report: https://ar2017.nzsuperfund.co.nz/sites/default/files/downloads/NZSF%20Annual%20Report%202017.pdf

Documents released by Guardians of Superannuation: https://www.nzsuperfund.co.nz/sites/default/files/documents-sys/2017%20proactive%20disclosure%20-%20remuneration.pdf

SSC documents: https://www.ssc.govt.nz/sites/all/files/proactive-release-gnzs-oct2017.pdf

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Crowdsale And Crowdfunding Campaign: Help Create The Future Of Independent News

Two weeks to go! The Scoop 3.0 plan aims to create NZ’s first community-owned, distributed news and media intelligence ecosystem in 2019. We believe this ScoopPro media monetisation approach can be scaled and spread globally to support local and independent news efforts in regional New Zealand and around the world.

Scoop is an ecosystem, it would not exist without those who contribute to it, read it and rely on it for professional media purposes. Generous past support from this ecosystem has enabled us to come this far in developing our business model. Support our PledgeMe Campaign>>

 

14/11: Two Years’ Progress Since The Kaikoura Earthquake

Mayor John Leggett said it was a day for reflection, but also a time to recognise the work by many people to support progress towards recovery made across Marlborough since November 2016. More>>

ALSO:

Pike River: Mine Drift Re-Entry Plan To Proceed

“I’ve decided the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency, recommended course of action to enter the drift, using the existing access tunnel, is by far the safest option,” said Andrew Little. More>>

ALSO:

Appointments: New High Commissioner To Australia Announced

“Dame Annette King needs no introduction given her long running career as a parliamentarian where she has previously held a number senior Cabinet portfolios, including Justice, Police and Health. She also was Parliament’s longest serving female MP with 30 years’ service,” said Mr Peters. More>>

ALSO:

Two Years Since Kaikoura: Silvia Cartwright To Lead Inquiry Into EQC

“The inquiry will be the first of its kind under the Public Inquiries Act 2013 and will have all the powers of a Royal Commission, be independent of Government and make its report directly to the Governor-General. More>>

ALSO:

Gordon Campbell: On The Royal Commission Into Child Abuse

Obviously, it is good news that the coalition government has broadened the scope of its Royal Commission into the abuse of children, beyond its previous focus on children in state care. More>>

ALSO:

Cases Delayed: Court Staff Refuse To Handle Sentencing Papers

Dozens of court cases have reportedly been delayed, as court staff escalate industrial action at two Auckland courts by enforcing a ban on handling sentencing papers. More>>

ALSO:

Education: Primary Teachers Rolling Strikes

RNZ Report: More than 100,000 primary school students in Auckland will be home from school today as teachers and principals walk off the job for the second time this year. It's the start of a week of rolling one-day strikes around the country, after the collapse of contract negotiations last Thursday. More>>

ALSO:

"Process Was Sound": Inquiry Into Haumaha Appointment Released

The Inquiry’s purpose was to examine, identify, and report on the adequacy of the process that led to the appointment. It found the process was sound and no available relevant information was omitted. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels