Whineray takes a pay cut

NZ Super Fund chief executive Matt Whineray has joined the move to cut pay during the Covid-19 disruption.

Monday, May 4th 2020, 10:17PM

A spokesman for the fund said, after the Prime Minster’s announcement that her ministers and the chief executives of public sector agencies would reduce their salaries, Whineray had chosen to reduce his base pay by 20% for the next six months.

He was not required to by the Government.

The board has also reduced its fees by 20%.

Whineray is the country’s highest-paid public sector chief executive.

He received a salary of $1.065 million last year but that reflected the total pay package rather than his base rate of pay.

Prime Minister Jacinda Ardern’s 20% pay cut reduces her salary by $47,104. Cabinet ministers will lose $26,900 each and Deputy Prime Minister Winston Peters $33,473.

National leader Simon Bridges and director general of health, Ashley Bloomfield, have indicated they will also take a pay cut.

Ardern said: “If there was ever a time to close the gap between groups of people across New Zealand in different positions, it is now. I am responsible for the executive branch and this is where we can take action … it is about showing solidarity in New Zealand’s time of need.”

She said it was not designed to have a material financial impact but to acknowledge the hit that other New Zealanders were taking.

Tags: NZ Super Fund

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