DB pain extending to top execs says Mercer

The pain felt by ordinary workers over the closure of final salary schemes is spreading higher up the food chain according to new research from Mercer Human Resource Consulting. It says top executives should now expect to see their generous pension benefits severely eroded by the change going on as companies wake up to the fact they can save large amounts of money by putting everyone into defined contribution schemes. FRS17 and other rules are making it harder for the true cost of executive pensions to be hidden in accounts, which is putting more pressure on remuneration commi...