Olympic success boosts TFL commissioner’s pay by £319,000

Transport for London (TFL) commissioner, Peter Hendy, received a £319,006 boost to his remuneration package for 2012/13 as a result of two performance-related bonuses awarded in recognition of the employer’s successful service delivery during the London 2012 Olympic and Paralympic Games.

The two bonuses of £150,366 and £168,640 are for 2010/11 and 2011/12 respectively and form part of TFL’s deferred incentive plan (DIP), according to the organisation’s annual report for the 12 months to 31 March 2013.

Hendy’s bonuses were awarded on top of his £331,346 annual salary and £2,100 worth of benefits in kind, increasing his total remuneration package, excluding pension contributions, to £652,452.

Separately, Steve Allen, managing director of finance at TFL, received £161,941 in performance-related pay on top of his £288,524 base salary in 2012/13, while Mike Brown, managing director of rail and underground, received a £163,946 bonus on top of his £309,605 salary.

TFL’s remuneration committee said: “Following the successful delivery of transport for the games and strong performance against in-year targets, payments in respect of the DIP were made to TFL senior staff in December 2012.

“Failure to have delivered for the games would have resulted in no performance awards being made to the commissioner or chief officers in respect of either 2010/11 or 2011/12.”

The annual report also reveals that 328 TFL employees earned more than £100,000 in total pay in 2012/13, down from 365 in 2011/12.