Trustee Board & Management

print this page

AvSuper Board Attendance for current Trustee Directors

Director name Number of Trustee Board meetings attended per financial year
2014‑15 2015‑16 2016‑17 2017‑18 2018‑19 2019‑20
B Firkins 5 6 7 8 6 6
D Allen 5 6 7 8 6 6
S Brades N/A N/A N/A N/A 2** 6
G Burgess N/A N/A N/A N/A N/A 5
L Cox 4 5 6 6 6 5
M Farrell 2# 6 6 8 5 5
H Mathews N/A 5* 7 7 6 6
S Merlicek N/A N/A N/A N/A 2** 5
J-A Schafer N/A 5## 7 6 5 6

Most AvSuper Directors also attend Board and Committee meetings during the year.

# joined the Board on 1 March 2015 so eligible for two meetings

## joined the Board on 28 July 2015 so eligible for five meetings

* joined the Board on 1 October 2015 so eligible for five meetings

** joined the Board on 13 March 2019 so eligible for two meetings

AvSuper Trustee and Executive Officer remuneration

Current as at 27 July 2020

Policy principles

The key principles that underpin AvSuper’s Trustee and Executive Remuneration Policy are that remuneration levels will:

  • be linked to the “profit-for-members” philosophy and management of the Fund and comply with relevant legal requirements
  • for Executives – reward financial and non-financial performance by aligning corporate and individual performance
  • for Directors – be treated as financial compensation for individual directors for their efforts; for clarity this means that Directors’ Fees are not paid to any third party associated with the Director. Directors do not receive bonuses or other incentive payments.
  • reflect the market in which the Trustee operates, and which is referenced to appropriate external benchmarks for similar roles.

Trustee Director remuneration for the year ending 30 June 2020

AvSuper pays remuneration to Directors for their role on the Trustee Board, together with reimbursement of travel and other expenses properly incurred when attending to Fund business. AvSuper’s Directors are not paid any short or long term incentives, or given bonuses, equities or other retirement benefits while they hold (or when they cease to hold) office, other than superannuation benefits that have accrued under relevant legislation.

Trustee remuneration is reviewed annually by the Remuneration and Nominations Committee and the Trustee Board.

The total amounts paid to Directors as remuneration for the previous two financial years are shown below.

 

Name

Remuneration*

(to year ending 30 June)

2020 2019
D Allen

Directors Fees

Super (SG) contributions

Total

$56,573

$ 5,374

$61,947

$53,781

$ 5,109

$58,890

S Brades

Commenced 13 March 2019

Directors Fees

Super (SG) contributions

Total

 

$51,285

$ 4,872

$56,157

 

$ 2,890

$  274

$ 3,164

A Cooke

Ceased 1 April 2019

Directors Fees

Super (SG) contributions

Total

 

 

$37,561

$ 4,676

$42,237

L Cox

Directors Fees

Super (SG) contributions

Total

$60,420

$  5,740

$66,160

$56,574

$ 5,374

$61,948

M Farrell

Directors Fees

Super (SG) contributions

Total

$48,784

$ 4,634

$53,418

$44,664

$ 4,243

$48,907

B Firkins,
Chair

Directors Fees

Super (SG) contributions

Total

$83,017

$ 7,886

$90,903

$61,673

$ 5,858

$67,531

G Fishlock

Ceased 1 February 2019

Directors Fees

Super (SG) contributions

Total

 

 

$69,786

$ 6,819

$76,605

J-A Schafer

Directors Fees

Super (SG) contributions

Total

$61,862

$ 5,877

$67,739

$49,639

$ 4,715

$54,354

H Matthews

Directors Fees

Super (SG) contributions

Total

$61,862

$ 5,877

$67,739

$53,781

$ 5,109

$58,890

S Merlicek

Commenced 13 March 2019

Directors Fees

Super (SG) contributions

Total

 

$51,285

$ 4,872

$56,157

 

$ 2,890

$   274

$ 3,164

Executive remuneration for the year ending 30 June 2019

Executive remuneration for the previous two financial years is shown below.

Executive’s base salary is determined with reference to external benchmarking data of equivalent roles in other financial services companies. Incentive remuneration is determined by the achievement of key performance indicators (KPIs). Executive’s KPIs are generally tied to the achievement of targets set in the Fund’s strategic and business plans.

The Chief Executive Officer’s remuneration  is reviewed by the Remuneration and Nominations Committee which then makes recommendations to the Trustee Board for approval. The CEO’s remuneration consists of a base salary (including superannuation) as fixed remuneration and an incentive remuneration component.

The Remuneration and Nominations Committee is also responsible for annually reviewing Executive’s performance against the required standard for their KPIs and makes recommendations to the Trustee Board about appropriate incentive remuneration for that year. Note any incentive payment not earned in a given financial year is forfeited (ie not carried forward into future years).

 

Executive personnel Date appointed Compensation Performance related incentive payments per financial year
Name Title 2018 2019 Amount Paid % paid % forfeited
M Wade Chief Executive Officer & Company Secretary 4 Dec 2007

salary

super

total

$378,043

$  35,915

$413,958

$397,169

$  36,953

$434,122

$18,500 (2018)

N/A

12/17

N/A

96%

N/A

4%

N/A

N Smith Executive Manager – Finance & Tax 21 Feb 2018

salary

super

total

$64,307

$ 8,038

$72,345

$201,706

$  25,213

$226,919

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

 

Phone 1300 128 751 (Local call)
Email:
avsinfo@avsuper.com.au