Company bosses rewards soar

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A topic from News & Current Affairs: Business

laresMon 05/09/11 09:10

"Pension pots for top company bosses soar to record levels
Anger over annual incomes of more than £1m for chief executives on retirement"

"Britain's top company bosses can look forward to pension pots that have soared by 70 per cent in less than a decade and are now at record levels, according to new statistics to be published this week.

The five biggest pension pots of FTSE 100 directors are worth more than £84m combined – nearly 600 times greater than the £150,000 that the average retirement fund of five working Britons would come to.

The sheer size of the funds set by for their retirement could give four of the five top directors annual incomes of more than £1m.

The findings illustrate a widening gulf between high earners and their workers."

"Average bonuses for directors of FTSE 350 companies have risen by 187% since 2002, without a corresponding rise in share prices, new research suggests.

The High Pay Commission said on Monday that average annual bonuses were worth 48% of salary in 2002, but are now 90%.

Commission chairman Deborah Hargreaves said it was a "myth" that big bonuses meant companies performed better.

The Department for Business, Innovation and Skills said it would study the report, which it called "interesting"."

http://bitly.com/mZxiNm

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