Bosses’ pension provision growing, says TUC

It said their provision was up in the last year and would provide an annual pension in retirement of £240,191 reports The BBC.

The group analysed the pension arrangements of 351 directors from FTSE 100 companies.

These had grown faster than most pension schemes for regular employees, it said.

The TUC claimed that the most common normal retirement age for senior executives was 60, although it was 65 for most other scheme members.

It wants to see the system change to that seen in the public sector, where all staff are members of the same scheme, and it has called for more transparency in annual reports about directors’ pension provisions.