Directors' pensions 'worth £3m'

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Directors of some of the UK's leading companies have gained pensions worth £891m, or £3m each, the TUC estimates.

The organisation said this would provide £193,000 a year - more than 25 times the average occupational scheme and an increase of 15% on last year.

The biggest pension pot from the 102 large companies looked at was £21m.

TUC general secretary Brendan Barber said a "new group of the super-rich" was enjoying benefits which do "not stop with their retirement".

'Guaranteed extra'

The survey suggests that the average salary pension pot of the top director at each company is £5.3m, which would pay out £320,000 a year.

Mr Barber said: "Even if top directors were in the same scheme as their workforce they would still get big pensions because their pay is so much greater than those of staff they employ.

"But this is not enough for some bosses; they need to have a guaranteed extra on top.

"Top executive pay has already created a new group of the super-rich who float free from the rest of society.

"The report shows that this does not stop with their retirement."

The survey comes ahead of the TUC annual congress in Brighton next week.

Many companies have scrapped final salary pension schemes in the past three years.