Remuneration committee

Assisting the Board with remuneration.

The committee is required to meet not fewer than four times each year, and at such other times as required.

• Remuneration Committee report (including Directors' Remuneration Policy) from our 2023 Annual Report and Accounts (PDF 527 KB)
  
• FCA Remuneration Code (Capital Requirements Directive IV) Disclosure for Aviva Wrap UK Limited and Aviva Investment Solutions UK Ltd for the 2021 Performance Year 01/01/2021 – 31/12/2021 (PDF 210 KB)

• Make recommendations to the Board regarding the Group's remuneration policy in respect of the Board Chair, Executive Directors (EDs), members of the Group Executive Committee and members of senior management
• Work with the Risk Committee to ensure that risk and risk appetite are properly considered in setting the remuneration policy
• Obtain information about remuneration in other companies and, in this regard, select, appoint and determine the terms of reference for independent remuneration consultants, to advise on remuneration policy and levels of remuneration
  
• Review and determine the remuneration of the Chair of the Board and the terms of employment and remuneration of individual EDs and Group Executive Committee members, including any specific recruitment or severance terms
• Review and recommend to management the level and structure of senior management remuneration
• Approve the Aviva Investors' reward strategy, including any changes to the strategy
• Recommend to the Board the establishment of any employee share plans; exercise all the Board's powers in relation to the operation of all share and incentive plans and the Group's Savings Related Share Option Scheme (SAYE) and all employee share ownership plan
• Have regard to remuneration trends across the Group when setting remuneration policy for EDs
• Ensure that remuneration arrangements for all employees are commensurate with promoting ethical behaviour
• Approve the list of Code Staff and any severance packages for Code Staff under the relevant regulatory remuneration code and the remuneration for employees in control functions and those whose remuneration exceeds an agreed limit
• Monitor and recommend to management the level and structure of remuneration for senior management and, other than in respect of Board members, approve exceptional remuneration activity for employees outside agreed policy

Read the full terms of reference (PDF 148 KB) for our Remuneration Committee