Senior executives 'turn back on pensions' in favour of cash payments

The organisation's PensionsWatch analysis revealed 70% of the UK's top directors had opted to take cash payments in lieu of contributions to their scheme last year. The TUC said £34m had been paid out instead of pension contributions in the past 12 months. It said a significant number of senior staff at major firms were opting for cash instead of pension contributions due to tax rules. And warned senior executives were becoming "detached" from the system which could have negative effects for workers. The TUC said the typical cash amount handed to senior executives in lieu of pen...