Agenda

Remuneration Committee - Thursday 29 February 2024 10:00

Venue: Conference Rooms 1 & 2 - Palestra, 197 Blackfriars Road, London, SE1 8NJ. View directions

Contact: Shamus Kenny, Head of Secretariat

Items
No.	Item
1.	Apologies for Absence and Chair's Announcements
2.	Declarations of Interests Interim General Counsel Members are reminded that any interests in a matter under discussion must be declared at the start of the meeting, or at the commencement of the item of business. Members must not take part in any discussion or decision on such a matter and, depending on the nature of the interest, may be asked to leave the room during the discussion.
3.	Minutes of the Meeting of the Committee held on 9 November 2023 PDF 130 KB Interim General Counsel The Committee is asked to approve the minutes of the meeting of the Committee held on 9 November 2023 and authorise the Chair to sign them.
4.	Matters Arising, Actions List and Use of Delegated Authority PDF 231 KB Interim General Counsel The Committee is asked to note the updated actions list and the use of Chair’s Action.
5.	Performance Awards 2023/24 PDF 323 KB Commissioner The Committee is asked to authorise the Chair of the Committee, following consultation with available Committee Members, to approve the performance awards for 2023/24 for the Commissioner, Chief Officers and Directors specified under the Committee’s Terms of Reference, subject to the final validated 2023/24 TfL and divisional scorecards outturn; and note that the same principles will apply in relation to performance awards for other eligible TfL staff.
6.	Executive Committee Remuneration Benchmarking PDF 148 KB Chief People Officer The Committee is asked to note the paper and the exempt supplementary information on Part 2 of the agenda and provide any feedback in relation to the Report. Additional documents: Executive Benchmarking Report , item 6. PDF 1 MB
7.	Performance Award Scheme 2024/25 PDF 128 KB Chief People Officer The Committee is asked to: endorse the proposal to continue to operate performance award schemes for senior management for 2024/25 with the continuation of a financial criterion; note how Chief Officer and Director performance awards will be aligned to a single scorecard approach (TfL scorecard) for the performance year 2024/2025; and note the proposal to continue to operate performance award schemes for the performance year 2024/25 under the TfL Pay for Performance framework with the continuation of a financial criterion.
8.	Chief Officer Remuneration 2024 PDF 14 KB Commissioner The Committee is asked to note the paper and the exempt supplementary information on Part 2 of the agenda and consider the proposals as set out in the paper on Part 2 of the agenda.
9.	Approach to Reward PDF 18 KB Chief People Officer The Committee is asked to note the paper. Additional documents: remcom-20240229-item09b Appendix 1 - Approach to Reward , item 9. PDF 414 KB
10.	Members' Suggestions for Future Discussion Items PDF 113 KB Interim General Counsel The Committee is asked to note the forward plan and is invited to raise any suggestions for future discussion items for the forward plan and for informal briefings. Additional documents: Remuneration Committee Forward Plan , item 10. PDF 152 KB
11.	Any Other Business the Chair Considers Urgent The Chair will state the reason for urgency of any item taken.
12.	Date of Next Meeting TBC June 2024
13.	Exclusion of Press and Public The Committee is recommended to agree to exclude the press and public from the meeting, in accordance with paragraph 3 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business.
	Agenda Part 2 Papers containing supplemental confidential or exempt information not included in the related item on Part 1 of the agenda.
14.	Performance Awards 2023/24 View the reasons why item 14. is restricted Exempt supplementary information relating to the item on Part 1 of the agenda.
15.	Executive Committee Remuneration Benchmarking 2024 View the reasons why item 15. is restricted Exempt supplementary information relating to the item on Part 1 of the agenda.
16.	Chief Officer Remuneration 2024 View the reasons why item 16. is restricted Exempt supplementary information relating to the item on Part 1 of the agenda.