Remuneration report
Chief Executive and other senior appointments
Throughout 2023/24 our senior management team remained unchanged, consisting of a team of three permanent senior managers, led by the Chief Executive, and with a fixed term part-time project manager focusing on fees and fee variation related work.
Remuneration policy for the Chief Executive and senior staff
For all senior staff, remuneration is set by the PSAA Board, in line with PSAA’s terms and conditions of employment.
Key terms of employment for the Chief Executive and other members of the management team are as follows:
- pension arrangement: PSAA operates a defined contribution plan with the same level of benefit for all its members. The Chief Executive and all staff are eligible to join the scheme. PSAA’s contribution is 10% of salary for all staff.
- other terms of employment: The Chief Executive and senior managers all have permanent employment contracts and are required to give between four to six months’ notice if they resign.
Remuneration over £50,000
The number of staff with remuneration over £50,000 is shown in the table below. The bands are based on salary, employer pension contributions and contractual payments and benefits in line with the contractual terms and conditions of employment.
| Band £k | Number of employees 2024 | Number of employees 2023 |
| 50 – 55 | 2.0 | |
| 60 – 65 | 1.0 | |
| 70 – 75 | 3.0 | 1.0 |
| 75 – 80 | 1.0 | 1.0 |
| 80 – 85 | 1.0 | |
| 100 – 105 | 1.0 | |
| 105 – 110 | 1.0 | 1.0 |
| 110 – 115 | 1.0 | 1.0 |
| 115 – 120 | 1.0 | |
| 140 – 145 | 1.0 | |
| 150 – 155 | 1.0 |
Senior management remuneration
Remuneration details for the senior management team are shown in the table below. This includes salary, employer pension contributions and contractual allowances and benefits in line with the contractual terms and conditions of employment.
| Description | 2024 | 2023 |
| Chief Executive | £154,455 | £141,877 |
| Chief Finance Officer | £116,884 | £111,004 |
| 2 Other Senior Managers | £108,805 to £112,814 | £103,133 to £107,151 |
Pay multiple
The relationship between the remuneration of the highest paid employee and the median remuneration of the organisation’s workforce is shown in the table below. Total remuneration includes salary, contractual payments and benefits. PSAA does not have performance-related pay. These figures do not include employer pension contributions.
| Description – £’000 | 2024 | 2023 |
| Band of highest paid – total remuneration | 140k – 145k | 125k – 130k |
| Median – total remuneration | 64 | 62 |
| Ratio | 2.2 | 2.1 |
Remuneration policy for Directors
There have been no changes to Directors’ remuneration during the year.
None of the Directors serving between 1 April 2023 and 31 March 2024 received other benefits from PSAA, nor were they members of the pension scheme.
| Director | 2024 | 2023 |
| Stephen Freer | 30 | 30 |
| Keith House | 8 | 8 |
| Marta Phillips | 8 | 8 |
| Fraser McKinlay | 8 | 8 |
| Michael O’Donnell | 8 | 8 |
Directors are also reimbursed for expenses directly and necessarily incurred in the performance of their duties.
Alan Edwards, the independent audit committee member received remuneration of £2,000 for the period 1 April 2023 to 31 March 2024.