Remuneration Committee

The purpose of this Committee is to establish and conduct a formal and transparent process for the remuneration packages for the Chief Executive Officer, along with
independent members of Board Committees, Route Panel chairs and members and the Institute’s senior civil servants.

1. Remit

The Remuneration Committee will consider and make decisions on

• the framework and policy for remuneration (within the flexibilities allowed by wider government guidance);
• the total individual remuneration packages of the Chief Executive Officer, along with independent members of Board Committees, Route Panel chairs and members and the Institute’s senior civil servants. (including salaries and non-consolidated awards for senior civil servants).

2. Responsibilities

The Committee shall:

• review the ongoing appropriateness and relevance of the remuneration policy (within the flexibilities available);
• have full authority to commission any reports or surveys which it deems necessary to help fulfil its obligations.

No Board member shall be involved in any decisions as to their own remuneration. The remuneration of the CEO is a matter for the Chair of the Board. The CEO will not be involved in any decisions on their own remuneration.

Human resources support will ensure that any provisions regarding any disclosure of information, for example within Annual Reports or other government requirements, are fulfilled.

The Committee will ensure that decisions on reward are fair and free from bias and that the outcomes work towards equal pay.

3. Accountability

The Committee is accountable to the Institute’s Board.

4. Membership and attendance

The Committee will consist of at least two and no more than four Board members. The Chair of the Board will chair the Committee. Quorum is two Board members. An HR representative will attend the meeting.

The Committee will meet at least twice a year, and at such other times as required.

Members

Board: Antony Jenkins, Dame Fiona Kendrick