Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Remuneration definition

What does Remuneration mean? Remuneration is the pay an individual receives for work, typically basic salary and, depending on context, variable elements such as bonuses, commission, overtime and allowances. It is a descriptive expression used across employment, company and tax law, with its precise scope set by the relevant statute, contract, policy or scheme rules rather than by a single universal legal definition. In pensions practice—particularly defined benefit schemes—the pension accrued is usually linked to pensionable remuneration (often called pensionable salary or pay). Whether remuneration includes or excludes bonuses, commission, overtime, car or location allowances, shift premia and other fluctuating emoluments is determined by the...

Remuneration of administrators, liquidators and trustees: fixing, disclosure, challenge and court oversight (England and Wales)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

remuneration

The pay of office-holders in both corporate and personal insolvency cases is governed by the Insolvency Act 1986 (ia 1986) and the Insolvency (England and Wales) rules 2016 (IR 2016), SI 2016/1024. When a court considers what an office-holder should receive, it will also apply part six of the Practice Direction on Insolvency Proceedings (PDIP). Office-holders should further take into account Statement of Insolvency Practice (SIP) 9, which provides guidance on the basis for fixing remuneration. Although SIPs are not legally binding, they represent best practice and non-compliance can result in serious disciplinary consequences. As an office-holder’s fees are met from the assets of the relevant insolvent estate as an expense, creditors have a direct and clear stake in the level of remuneration. The legislation reflects this by enabling creditors to decide the basis on which an office-holder is paid. In large or complex insolvencies—such as liquidation, administration and bankruptcy—creditors may establish a committee, which must comprise between three and five members...

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Web page updated on 22/05/2026

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