Million-dollar public servants: 11 staff at Australia’s Future Fund paid significantly more than the PM

One executive at Australia’s Future Fund received a $1.5 million package last year, while ten other staff members earned over $1 million each. This revelation has sparked criticism, particularly during a cost-of-living crisis and amid job cuts across the public service.

The Future Fund, which manages investments worth $350 billion, has come under scrutiny for its generous remuneration packages. The 11 staff members, all of whom earn more than federal cabinet ministers and nearly all department secretaries, include individuals in high-ranking positions, such as the heads of Australia’s domestic intelligence agency and the federal police.

The pay details emerged after Greens senator Barbara Pocock questioned the minister for the public service, Katy Gallagher, about the high salaries in August. Gallagher’s office responded, stating that the fund operates in a "highly competitive global market" and that such wages are necessary to attract top talent.