Professional Documents
Culture Documents
MPE Presenation to PEs January 2019
MPE Presenation to PEs January 2019
• Purpose
• Background
• Mission, Vision and Values
• Functions of the Ministry
• Summary of PEGA Requirements
• Board of Directors Remuneration
• CEO and Senior Management Remuneration
• Directives and Guidelines
Purpose
“Annual Retainer fee”: Is paid to retain the skills and services of a Board member for a fixed
period and to compensate for adhoc meetings. The retainer fee is only paid to Board of Directors.
“Annual Sitting allowance”: Refers to the fees paid to a Board Member for the participation
and attendance of a Board or Board Committee meeting. This fees shall also be paid to co-opted
members.
“Tax”: Revised definition as per Income Tax Amendment Act No. 13, of 2015 “Remuneration is
defined as any amount of income which is paid or payable to any person by way of any salary,
leave pay, allowance, wages, overtime pay, bonus, gratuity, commission, emoluments, fee,
pension, superannuation allowance, retiring, allowance or stipend, whether in cash or otherwise
and whether or not in respect of services rendered”. The Annual retainer and sitting
allowance is taxable pending on your tax bracket (18%, 25%, 28%, 30%, 32%,
37%).
Bands for total guaranteed pay per annum inclusive of an annual inflation rate and excluding
performance and incentive based pay in Namibian Dollars
Size of Public
Lower Quartile Median Upper Quartile 90th Percentile
Enterprise
Bands for total guaranteed pay per annum inclusive of annual inflation rate and excluding
performance and incentive based pay in Namibian Dollars
Size of Public
Lower Quartile Median Upper Quartile 90th Percentile
Enterprise
Questions