Future Fund executives face scrutiny over million-dollar salaries

Senate Estimates hearings have revealed significant salary increases and payouts among senior executives at the Future Fund Management Agency. The number of public servants at the agency earning more than $1 million annually has risen from 11 to 17 over the last financial year, with one individual receiving $2.2 million including incentive bonuses.

Will Hetherton, the Future Fund’s chief corporate affairs officer, defended the compensation, stating the agency operates in competitive global markets to maximize risk-adjusted returns. He noted that the fund returned 14.8 per cent last year, adding $37.4 billion to its portfolio, and emphasized that much of the remuneration is tied to investment performance.

Greens Senator Barbara Pocock criticized the figures, describing the $2.2 million payout as an “outrageous sum of money” and expressing concern over the rising number of high earners and the lack of gender diversity among them.