Page 22 - Pillar 3 Disclosure
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Three Year Performance Related Pay Scheme

A three-year scheme commenced on 1 December 2010 based on financial performance and effective risk management criteria. A maximum of 

20% of salary (with one third being deferred until the end of the three-year period) can be earned for achievement of all elements. As part of 

the process the Remuneration Committee set targets and assess whether any payment should be paid.


The Society makes a contribution of between 17.5% and 20% of salary to Executive Director’s private pension arrangements. Mr Winter is a 

deferred Member of the Ipswich Building Society Pension and Life Assurance Scheme, a defined benefit pension which became paid up on 31 

March 2006.


Executive Directors receive other taxable benefits including a car allowance, and a private health care scheme, which covers the Directors and 

their families. The Society does not provide concessionary home loans to Directors.

Contractual terms

The Executive Directors are employed on open-ended service contracts, they require 12 months notice to be given by the Society and six months 

notice by the individual.

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