An average executive director retiring at the age of 60 is likely to have
final salary pension worth nearly £3m, a survey by TUC PensionsWatch has
Overall, directors of the UK’s top 100 companies accorded themselves pensions
worth nearly £1bn in spite of the growing pensions crisis in the country.
The biggest final salary pension was at a staggering £19m, which would see
the director in question receive nearly £1m each year.
Brendan Barber, TUC general secretary, said: ‘Britain’s boardrooms and
business lobby groups have failed to tackle upstairs-downstairs style company
pensions. If bosses were in the same scheme on the same terms as staff, they
would still build up massive pensions compared to employees, but they would be
fairer. It would also help reduce their company pension deficits.’
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation