Top directors take home pensions worth £240,000 a year

Pensive about your pension? According to a new study by the Trades Union Congress, top bosses are sitting on pensions pots worth an average of £4.3m each.

by Rebecca Burn-Callander
Last Updated: 09 Oct 2013

Companies like Unilever and Shell may be phasing out their final salary pension schemes but the UK's top bosses are still sitting on substantial nest eggs. Latest research from the TUC into the pension arrangements of 351 directors showed that the average value of their retirement finds has increased by £400,000 over the past year.

Annual pensions are now worth more than £240,000, and are 24 times bigger than the average occupational pension, said the report, as an increasing number of directors now receive cash payments in lieu of company pension schemes to keep them in their dotage. Average payments hit £164,000 this year, up by £26,000 on the previous 12 months.

That's definitely enough for a comfortable retirement, although not quite enough for a superyacht...

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