Thursday, 23 July 2009

Directors' pensions

Lane Clark & Peacock has put out its latest survey of pension provision for directors of FTSE100 companies. You can download it here. A few bits and bobs -
  • Most directors still have DB pensions - though this is declining because schemes are closed to new members.
  • The odd externally-appointed director is being offered DB, but the large majority are getting DC, cash in lieu of pension, or nothing at all (though probably bigger basic salary).
  • Median contribution to a director's DC scheme is... 20% of salary (typical employee can expect about 6%)
  • Median payment in lieu of pension is... 29% of salary.
  • Not data on extent of rapid accrual rates (1/30ths etc)

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