Disclosure of Directors' Fees

NRMA is an advocate of good governance practices. The Board of NRMA fully supports the requirement in the Constitution which requires disclosure of Directors’ fees on the Company’s website in order that Members are fully informed about the level of Directors’ fees.

How Directors' fees are determined for approval by Members

The amount of the fee pool from which the Directors’ base fees are paid is set by Members in general meeting, in accordance with NRMA’s Constitution, and was last increased by a vote of Members at the AGM in 2007.

NRMA sought the advice of an independent external remuneration consultant when deciding how much to recommend to Members for approval at the 2007 AGM. This external review also ensured that any fees payable to Directors (following approval by Members) were set at market rates and were assessed independently of the Board. NRMA is committed to consulting external independent advice to set the amount of the fee pool, as this ensures that market factors and independence are paramount in the decision making process.

NRMA Board

From 1 January 2011, under the company’s new Constitution, the Directors’ fee pool is subject to an annual CPI review in the year following any year in which no fee increase has been approved by Members at a general meeting. As no fee increase was proposed to Members at the AGM in 2011, on 1 January 2012, Directors’ fees increased by 3.5% (calculated in accordance with the Australian Bureau of Statistics’ all groups weighted average consumer price index for eight capital cities for the year from September 2010 to September 2011).

Committee Fees

While permitted by the Constitution, the President and Deputy President, by convention, do not receive fees for their attendance at Committee meetings. NRMA's Committee fees are determined by the Board with reference to independent external advisers and are paid in addition to the Directors' base fees.

Superannuation

Statutory Superannuation Guarantee Charge contributions (SGC contributions) are currently paid by NRMA on behalf of the Directors at the rate of 13 per cent. Statutory SGC contributions are paid in addition to the Directors' base fees. SGC contributions are not paid to any Director over the age of 75 years, in accordance with current legislation.

Industry Advisory Panel Fees
In March 2009, following a review of the NRMA's governance structure, the NRMA Board approved the appointment of four Industry Advisory Panels (IAPs). The IAPs comprise of up to three independent industry experts, one NRMA Non-Executive Director, the Business CEO/General Manager of the relevant business, the CEO NRMA Investments and the Group CEO. The role of the independent industry experts and the NRMA Non-Executive Directors is to draw on their industry experience and provide industry insight and comment, as well as act as a sounding board to the Business CEO/GM, CEO NRMA Investments and the Group CEO.  

The level of fees payable for the IAPs is based on advice from an independent external remuneration consultant.

The four Industry Advisory Panels (and the name of the NRMA Non-Executive Director appointed to each) are:

• Holiday Parks Industry Advisory Panel (Graham Blight);
• Travel Industry Advisory Panel (Kyle Loads);
• Vehicle Rental Industry Advisory Panel (Michael Tynan); and
• Vehicle Servicing & Repair Industry Advisory Panel (Alan Evans).

Ambassadors' Fees
In addition to the appointment of Industry Advisory Panels, the NRMA Board approved the creation of three Ambassadorial roles, covering areas of advocacy which are considered core to NRMA. The Ambassadors work with NRMA as champions for the following roles:

• Alternative Fuels & Technologies Ambassador (Graham Blight);
• Driver Safety Ambassador (currently vacant); and
• Youth Ambassador (currently vacant).

Face of Members' Group Escorted Tours Fees
On 27 July 2011, the NRMA Board approved the appointment of Ms Dawn Fraser as the Face of Members' Group Escorted Tours. The fees for this role are in addition to any fees Ms Fraser receives as a non-Executive Director, and have been set at a level equivalent to that of an Ambassador. Ms Fraser was formerly the non-Executive Director appointed by the Board to the Travel Advisory Panel but ceased that role in order to take up her new position.

Directors' Fees from 15 February 2012
Attached below is a table showing Board, Committee, Industry Advisory Panel and Ambassadors' fees payable by NRMA to its Directors from 15 February 2012.

> View the Directors' Fees (PDF 162KB/1 page)