17 Future Fund staff earn over $1 million as public sector pay soars
The Future Fund now has 17 staff earning more than $1 million a year, up from 11, with one paid $2.2 million.
High earnings of senior public sector executives dominated Senate Estimates hearings this week. The Future Fund Management Agency now has 17 staff members earning more than $1 million a year, an increase of six from the previous year.
One executive was paid $2.2 million including incentive bonuses. The fund's chief corporate affairs officer defended the payroll.
He noted the fund returned 14.8 per cent last year and added $37.4 billion to its portfolio. Separately, Australia Post CEO Paul Graham received a $1.64 million base salary plus $1.2 million bonus.
The bonus was partly from the $139.4 million property sale. The sacked Department of Employment and Workplace Relations secretary Natalie James received an $828,980 termination benefit.
- 17, up from 11
- Staff above $1m
- $2.2 million
- Highest single salary
- $37.4 billion
- Portfolio gain
- 14.8 per cent
- Annual return
Why it mattersThese salary levels raise questions about whether public sector pay reflects value for money and align with community expectations during cost-of-living pressures.
AustraliaAustralian taxpayers fund these executive salaries through government agencies; debates about public sector pay affect budget priorities and policy.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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