The head of the Canada Pension Plan Investment Board saw his pay drop nearly 30 per cent last year as the fund lost 18.6 per cent, according to the board's annual report.

Three other top executives also saw their collective compensation drop about 32 per cent.

President and chief executive David Denison earned $2.9 million, down from just under $4.2 million the previous year.

Denison's compensation included a salary of $490,000, a bonus of $735,000 and long-term incentives totaling $1.6 million. He also received $59,000 in pension contributions and $9,600 in other compensation which included such things as life insurance and health and dental benefits.

That compared with a salary of $475,000, a bonus of $1.2 million and long-term incentives totaling just under $2.4 million, plus $57,000 in pension contributions and $8,800 in other compensation the previous year.

Senior vice-president of private investments Mark Wiseman, senior vice-president of public market investments Donald Raymond and senior vice-president of real estate investments Graeme Eadie saw their collective pay fall 32 per cent compared with the previous year.