ZB ZB
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Andrew Dickens: Adrian Orr is worth every cent

Author
Andrew Dickens,
Publish Date
Tue, 21 Feb 2017, 6:46AM
Adrian Orr. NZME.
Adrian Orr. NZME.

Andrew Dickens: Adrian Orr is worth every cent

Author
Andrew Dickens,
Publish Date
Tue, 21 Feb 2017, 6:46AM

New Zealanders are a funny bunch when it comes to their attitude to people who earn a lot of money.

To my eyes they either revere or resent the rich too much.

Take our attitude to the recent citizenship of Paypal founder Peter Thiel. There were many blinded by his wealth. They either said he should be a citizen or he shouldn't. Both sides reasoning was based on how much money he has. There was precious little debate as to what he's actually done to earn the honour of our passport. Which to date, in my book, is sweet FA

But yesterday's story was even worse.

Adrian Orr, the Chief Executive of the New Zealand Superannuation Fund was yesterday given a pay increase of 36 per cent by his board. He's now paid 1 million dollars a year and is our highest paid public servant. But a third of that is performance linked so he might not make it all

A lot of people can't believe a public servant should be paid that much. Including the Prime Minister. Bill English Minister says the board was wrong to give him that pay increase and they've been threatened with losing their jobs. Bill English wants to pay Mr Orr just a 2.5 per cent increase. He reckons there's loads of people who could do that job for less.

I think he's wrong. I've been talking with Adrian Orr for 20 years now. In his time as a bank economist I was impressed with his insight and ability to cut to the chase. Don't take my word for it. The feeling is unanimous amongst financial analysts

The NZ Super fund is now worth 33 billion dollars. Last year it gained 5.4 billion dollars. That's a return of 9.9 per cent on capital investments. Ask yourself. Has your fund manager done that well? I doubt it. They've won world awards for performance. This guy could write his own cheque overseas and I'd like to remind you he had no pay increase for 3 years between 2010 and 2013. I mean for goodness sake, Trent Boult gets a million bucks and all he does is play cricket for six weeks!

I view Adrian Orr like an All Black who chooses to play in New Zealand. They could earn more overseas but they choose to give back. The man is a superstar. We're lucky to have him.

I don't understand Bill English's stance but I presume it's because he has one eye on the politics of envy that so many New Zealanders have which I think is cynical politics. If you think public servants are worth less than their private counterparts then expect a sub standard public service. Pay peanuts. Get monkeys.

If the Prime Minister won't say it I will. Adrian Orr. Thank you for adding over 5 billion dollars to the public coffers last year. You deserve your million. I'd pay you twice that. Thank you for staying in New Zealand and don't listen to the petty and envious Kiwis who are giving you gip and that includes Bill English.

 

Take your Radio, Podcasts and Music with you