Directors’ Report
3.6 FY24 Non-Executive Director (NED) Remuneration
3.6.1 Fee Policy
The following outlines the principles that ClearView Wealth applies to governing NED remuneration: Policy Non-Executive Directors are remunerated by way of one base fee (inclusive of
Superannuation Guarantee) that is based on market rates for comparable companies for the time commitment and responsibilities undertaken by Non-Executive Directors. The level of remuneration for each Non-Executive Director is set by the Remuneration Committee, within the total annual remuneration limits approved by the shareholders at a general meeting. Any increase to individual Non-Executive Director remuneration must be approved by the Board on the recommendation of the Remuneration Committee after engaging and taking advice, where appropriate. All reasonable out of pocket expenses incurred in connection with a Director’s duties on behalf of ClearView Wealth are reimbursed. The following outlines the Board Fees for FY24: Role Main Board Audit Remuneration Risk Chair 200,000 30,000 30,000 30,000 Member 85,000 *Fees are inclusive of superannuation The total amount of fees paid to Non-Executive Directors in the year ended 30 June 2024 is within the aggregate amount as approved by shareholders of $1,000,000.
Aggregate Board Fees
Non-Executive Directors are not entitled to participate in equity schemes of the Company and are not entitled to receive performance-based bonuses. Non-Executive Directors are not entitled to retirement benefits other than in respect of any superannuation entitlements. From 1 July 2024, the Board fees increased from $200,000 to $220,000 as the Chair and from $85,000 to $100,000 as a Member.
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ClearView Annual Report 2024
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