The average director of a FTSE 100 company has a final salary pension worth £3.6m and paying out £174,963 per year, the High Pay Commission said.
The average pension paid from a private sector final salary scheme is £5,860 per year for the rest of the workforce, according to figures from the National Association of Pension Funds (NAPF).
The commission's latest report, Directors' Pensions: In it for themselves?, found 97% of executive directors in FTSE 350 companies have formal company sponsored pensions, compared to just a third of all UK private sector employees.
More than a third of FTSE 100 executives also receive supplements worth on average £160,817 on top of their pensions, the report said.
"Companies have been busy cutting costs in recent years by slashing the pension provision for employees across the board," said Deborah Hargreaves, chair of the commission.
"This has seen much of the private sector workforce shut out from the best final salary related schemes, but the boardroom has shown no such restraint.
"As ever with pay at the top, it is one rule for the workforce as it is exhorted to put up with a poorer retirement so that companies can stay competitive, and another one for the boardroom where generosity remains unchecked."
Three years at Wells Fargo
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