Most directors have pensions over 20 times bigger than staff - TUC

The TUC’s analysis of the annual reports of more than 50 leading companies reveals 98% of executive final salary schemes have a normal retirement age of less than 65, with just under 80% of all company schemes offering directors the chance to retire at 60 without their pension being reduced. Only in one company do some, but not all, executives have to work to 65. Figures also show that directors of the UK’s top 100 most important companies have amassed pensions worth a total of £900m which, if claimed now, would on average pay out the equivalent of £167,000 a year. This according to the ...