Biggest Pension Fund Raises Pay for Top Executive
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The head of Japan’s public pension fund, the world’s largest investor of retirement savings, is getting a 64 percent pay increase that will still leave him with lower compensation than his U.S. counterpart.
Japan’s Government Pension Investment Fund will increase total annual compensation of its president to about 31 million yen ($260,000), including salary, bonuses and allowances, according to calculations by Shinichiro Mori, a director at the fund’s planning section. That compares with 18.9 million yen previously slated for the year ending March 31, Mori said by phone. The pay increase is effective this month, he said.