Large company directors 'amass pension of over £200,000 per year'
02/09/2008(11:30)
A new study has found that the directors of the UK's top companies could have a pension of over £200,000 a year when they retire.
Figures from the Trades Union Congress (TUC) annual PensionsWatch survey found that "top bosses" could have overall "pension pots" of £3 million.
This would equate to a yearly pension figure of £201,700, which is 25 times the normal average annual pension of £8,100.
PensionsWatch analysed the financial arrangements of 346 directors from 102 of the UK's top companies.
Brendan Barber, TUC general secretary, said that these top bosses see the "lavish" amounts as the "rewards they deserve for success".
"But these credit crunch-busting retirement plans seem to exist in a different world from the economic squeeze that is affecting everyone else's pensions," he added.
A recent survey by recruitment firm Kelly Services found that 20 per cent of UK workers feel they "definitely" chose the wrong career, while 24 per cent were "not sure".
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