Aviva to face 'significant' pay revolt at annual meeting The company will face a "significant" vote against its remuneration report, despite making concessions over its directors' remuneration earlier this week. On Monday, Aviva said chief executive Andrew Moss would not receive a pay rise this year that would have taken his salary to more than £1m a year, and would review the payment of "golden handshakes" for new executives. One fund manager predicted that 15pc to 20pc of the vote could reject the pay report. Another leading institutional investor said Aviva's decision to hand its new UK chief executive, Trevor Matthews, a bonus of £45,000 for just one month's work last year was "a bitter pill to swallow." He added: "Until recently, Aviva had a world class corporate governance team but recent cutbacks seem to have impaired their judgment. However, they still have significant resources at their hands so should be tuned in to what the market expects of FTSE 100 companies. Especially in economic conditions like this. Pensions & Investment Research Consultants, the shareholder group, which has already advised its members to vote against Aviva's "excessive" pay report, claimed separately on Wednesday that reform of executive pay was being "hobbled" by bodies such as the CBI. Pirc said future company pay policies should require 75pc shareholder backing - a Vince Cable proposal to curb soaring pay. Employers' groups say a simple majority of more than 50pc is adequate, claiming a higher threshold would leave companies at the mercy of activists.