a) The total package of the Chief Executive Officer for 2016/17 financial year is R4, 905m compared to R4 5m in the 2015/16 financial year. This resulted into a 9% increase which was applicable to all employees. Included in the total package is the basic salary of R2,781m and the other benefits inclusive of Provident Fund, Non-Pensionable Allowance, Medical and Housing of R2,124m. Performance bonus is generally what is due to employees, however the contract of employment of the CEO makes specific provision for performance bonus, which bonus is determined by the Board from time to time and the CEO was granted R2,925m post assessment of his performance and performance of the organisation. It should be noted that the package of the CEO did not increase with 31.6% but with 9%.It should be noted that there were changes on year to year non-recurring items (performance bonus)
b) The packages of the Executive Senior Management increased by 9% across the board, which includes the basic salary and other benefits inclusive of Provident Fund/Pension Fund, Non-Pensionable Allowance, Service bonus provision, Car allowance, Medical and Housing. It should be noted that included in the Other benefits is non-recurring items like Subsistence, reimbursive kilometres and Performance bonus.
c) There was no increase to the individual remuneration (retainer and meeting attendance) of non-executive Board members. It should be noted that the increase reflected when comparing the financial years relates to all non-executive Board members and meeting attendance year to year as they are not the same as a result a bottom line comparison does not give a true reflection. The following are the main reasons for year to year differences in the total amount for all totals non-executive Board members: