One-third of housing corporation bosses break pay norms

Thursday 06 September 2012

Some one third of housing corporation chiefs earned more than the maximum €193,000 agreed for public sector officials last year, the Financieele Dagblad reports on Thursday.

Of the 285 pay packages which came under the spotlight, 83 broke the official pay barrier. And 25% of the big earners were in charge of small institutions with fewer than 10,000 houses, the paper said.

Eight directors earned more than €300,000 a year, three of whom work for Amsterdam corporation Ymere. The biggest earner among small corporation bosses was Thom Aussems of the tiny Trudo foundation in Eindhoven which manages just 6,218 houses.

Scandals

Housing corporations have been under pressure to moderate salaries in line with the so-called Balkenende norm – which states public sector directors should not earn more than the prime minister.

The organisations, which control some half of the country's rent-controlled housing stock, have been hit by a string of scandals involving fraud, bribery and financial failings in recent years.

Legislation to increase regulation of the sector, including salaries, is currently with the upper house of parliament or senate.

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