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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.

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