More superannuation executives are adopting performance pay as part of their salary package, according to the latest research from McGuirk Management Consultants.

Last year the survey found that 48 per cent of superannuation fund executives had performance-based remuneration, this year the figure has jumped slightly to 52 per cent.

"There has been slight shift towards performance-linked remuneration but I suspect this trend will gradually increase. Over the next three to five years, we will most likely see 70 per cent of superannuation funds adopting performance pay," McGuirk Management Consultants managing director Terry McGuirk said.

Performance pay is already adopted by chief investment officers (CIOs) of industry superannuation funds, which has boosted their pay over chief executives.

About 22 per cent of a chief executive's pay is linked to performance goals while a CIO has 40 per cent of their pay performance-based, according to the research.

This has pushed the pay of CIOs ahead of chief executives.

The average pay for a CIO increased by 8 per cent to $315,615,000.

In comparison chief executives on average are paid $297, 9424,000 a 6.2 per cent increase from last year. In 2010, chief executives on average were paid 280,471,000.

The survey was drawn based on research from 88 superannuation funds, a decrease from previous surveys given the number of mergers in the sector.

McGuirk said that the concerns by the Australian Council of Trade Unions (ACTU) over executive pay in the superannuation industry needed to be viewed in context.

Earlier this month ACTU assistant secretary Tim Lyon voiced concerns over the level of executive remuneration in industry funds.

"We don't want to end up seeing higher and higher pays in the industry [industry superannuation funds]. We think it is important to put a chop in the wheel before super executives end up with million dollar salaries," Lyons said at the Conference of Major Superannuation Funds.

"Trustees from the ACTU have been involved in the superannuation industry for many years. There may be a philosophical argument for not paying high salaries. But the world has changed. These executives are now managing billions of dollars on behalf of members," he said.

"Funds have to do what is in the best interest of their members and that means offering competitive remuneration to attract the right type of people to an organisation."