Japan Government Pension Investment Fund raises pay of chief

Tokyo

THE head of the world's largest investor of retirement savings just got a 64 per cent pay rise.

Japan's Government Pension Investment Fund (GPIF) will increase total annual compensation of its president to about 31 million yen (S$348,000), including salary, bonuses and allowances, according to calculations by Shinichiro Mori, a director at the fund's planning section. That compares with 18.9 million yen previously slated for the year ending March 31, Mr Mori said. The pay increase is effective this month, he added.