New Zealand Superannuation Fund chief executive Adrian Orr received a more than 18 per cent pay rise to almost $800,000 in the last financial year, according to its latest annual report.
In the same period the fund, boosted by a rally in global sharemarkets, gained a total return of 19.4 per cent and increased in size by $3.3 billion to $25.8 billion after tax.
Orr's total remuneration of $791,462 in the 12 months to June 2014 included a $204,666 bonus payment, the annual report said.
His base salary, including KiwiSaver contributions and annual leave, increased 22.8 per cent to $586,796 from $477,684 in the year to June 2013.
Gavin Walker, chairman of the Guardians of New Zealand Superannuation, said Orr's remuneration was appropriate given the nature and complexity of his role.