Money down the drain?

Richard Benyon (Parliamentary Under Secretary of State (Natural Environment and Fisheries), Environment, Food and Rural Affairs; Newbury, Conservative)

The remuneration and bonus scheme for the chief executive and members of the Ofwat executive team are set in an appropriate and transparent manner in line with arrangements for other members of the senior civil service (SCS). This means that they are all paid at SCS pay bands 1 (from £58,200 to £117,800) or 2 (£82,900 or £162,500).
The arrangements for pay and bonuses are set out in the senior teams' contracts and subject to annual review by the Ofwat Remuneration Committee in line with awards recommended by the Senior Salaries Review Body. Each permanent member of the executive team participates in a bonus scheme, which is also in line with the Senior Salaries Review Body recommendations. The non-consolidated and non-pensionable bonus is paid on the individual's performance and is only awarded to the top 25% of SCS performers. Bonuses are also capped at £10,000 for pay band 1 and £12,500 for pay band 2.
The remuneration and bonuses of the Ofwat executive team are published in Ofwat's annual report and accounts, which are audited and laid before Parliament each year. These details are also published on the Ofwat website.