We value the time that the Committee Members will be giving to us. By way of thanks, the following payments will be provided per year:
- Committee Chair (also a Non-Executive Director (NED) of Trent & Dove)
- £7,250 per annum. This is the standard amount paid to a NED who is also the Chair of a Board Committee.
- Senior Committee Member (a customer)
- £3,315 per annum. Pay is 25% higher than that of a customer member of the Committee - to reflect additional time commitment.
- Customer member of the Committee
- £2,652 per annum. We engaged with external consultants to understand rates of pay for similar roles at other housing associations and took an average figure, based on their recommendations.
- Independent member of the Committee
- £2,652 per annum. This is the same as for a customer member of the Committee.
- NED member of the Committee
- Nil. As part of their existing membership of the Board, NED’s must sit on at least one Board Committee, and this is included in the standard NED pay.
We will also provide expenses for certain costs Committee Members may incur, mileage for example.