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Directors of top 100 companies have 1bn pension pot

Directors of the UKs top 100 companies have accumulated pensions worth nearly 1bn, according to the TUCs annual PensionsWatch survey.
The TUCs analysis reveals an average executive can retire at 60 on a final salary pension worth 2.7m with the largest directors pension in each firm worth an average 4.9m.
The TUC says the biggest final salary pension pot in the survey is over 19m and would pay the director nearly 1m a year.
TUC general secretary Brendan Barber says: Britains boardrooms and business lobby groups have failed to tackle upstairs-downstairs style company pensions. If bosses were in the same scheme on the same terms as staff, they would still build up massive pensions compared to employees but they would be fairer. It would also help reduce their company pension deficits.


Ridicule is nothing to be scared of, Paul

News reaches the Diary that Financial Express’s Paul Wynne is masking a secret past as a 1980s New Romantic superstar DJ. While living in Australia, we hear that Wynne hosted his own radio show, blasting out the latest Adam and the Ants, Culture Club and plenty of obscure face-painted groups that the Diary has too […]

Advantage joins PMS panel

Advantage has been appointed to the Premier Mortgage Service lender panel. It comes a day after the company confirmed it is now a sole lender.Advantage managing director Keith Dearling says: As a new lender this is a very important distribution agreement for Advantage, particularly as PMS is one of the largest UK mortgage distributors. “It […]

It’s a living thing

The world of retirement income planning is changing fast. On the surface, these changes are happening because of factors, including the closure of final-salary schemes, an extended period of market volatility and changing legislation. But a more fundamental and deep-rooted cause of these changes is taking place.

False sense of relief

In 2004 alone, some 360,000 people left the UK, the highest outflow ever seen. Of that number, the Office for National Statistics says a record 208,000, or 58 per cent, were British citizens and the trend is forecast to continue.


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