Last reviewed on 17 June 2021
School types: All · School phases: All
Ref: 42435

Your academy trust must ensure that:

  • Decisions about levels of executive pay and other benefits follow a robust evidence-based process, reflective of the individual's role and responsibilities
  • They are aware of broader business interests held by senior executives, and be satisfied that any payments made to them in relation to such interests don't undermine the transparency requirements for disclosing pay as part of the trust's annual accounts
  • The board's approach to pay is transparent, proportionate and justifiable, in line with the Academies Financial Handbook

You must get approval from the ESFA for severance payments where:

  • An exit package which includes a special severance payment is at or above £100,000, and/or
  • The employee earns over £150,000

The number of employees whose benefits exceeded £100k, in £10k bandings, as an extract from the disclosure of its financial statements for the previous year ended 31 August (benefits for