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Bosses' Pensions Up 23% Despite Downturn

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Good job if you can get it.

Especially when the taxpayer foots the bill.

http://www.guardian.co.uk/business/2009/se...nsions-increase

Bosses' pensions up 23% despite downturn

Directors of Britain's biggest firms can look forward to an average of £250,000 a year in retirement, 30 times what workers will receive, according to TUC survey

Sir Fred Goodwin

Former RBS chief executive Sir Fred Goodwin, whose pension was cut after controversy about the payout. Photograph: Ben Stansall/AFP

Directors of Britain's top companies secured an average 23% increase in pension payouts in 2008 to almost £250,000 a year, despite most of the firms suffering steep falls in profits.

The gap between the pensions of shopfloor workers and company directors also widened, with the 373 directors enjoying retirement incomes 30 times those of the average worker, compared to 25 times a year earlier, according to the TUC's annual pensions survey.

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Lets face it, it's there management skill that will get us out of this mess.... :ph34r:

Not the workers hard work.

It's the talent led recovereh

Edited by VoteWithYourFeet

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just wondering how they know this....ah, they see the stock market is up, therefore pensions are up...same applies to anyone with a unit linked pension I should coco.

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Good job if you can get it.

Especially when the taxpayer foots the bill.

http://www.guardian.co.uk/business/2009/se...nsions-increase

Bosses' pensions up 23% despite downturn

Directors of Britain's biggest firms can look forward to an average of £250,000 a year in retirement, 30 times what workers will receive, according to TUC survey

Sir Fred Goodwin

Former RBS chief executive Sir Fred Goodwin, whose pension was cut after controversy about the payout. Photograph: Ben Stansall/AFP

Directors of Britain's top companies secured an average 23% increase in pension payouts in 2008 to almost £250,000 a year, despite most of the firms suffering steep falls in profits.

The gap between the pensions of shopfloor workers and company directors also widened, with the 373 directors enjoying retirement incomes 30 times those of the average worker, compared to 25 times a year earlier, according to the TUC's annual pensions survey.

Right on comrade.

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Capitalism means meritocracy, these people deserve what they earn. Probably more than they earn, because there is still socialism holding them back.

The real scandal is that even after taking perfectly legal actions they still occasionally have to pay tax.

Which is Evil and Wrong.

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Terry Rooney MP has called for a cap on Public Sector pensions, £50,000. It is more than I would allow, average wage should be the ceiling. But as so many posters on here say, the Private Sector should have the same rewards. So limit them too. If they want to save more, they can, but not on our taxes.

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Capitalism means meritocracy, these people deserve what they earn. Probably more than they earn, because there is still socialism holding them back.

The real scandal is that even after taking perfectly legal actions they still occasionally have to pay tax.

Which is Evil and Wrong.

Hear hear, God kills a kitten every time someone with market talent is forced to move overseas for tax reasons.

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It may be worth noting that in 2006, Keiran Poynter, the last Chairman of PwC took home £2.5 million. The 793 partners earned an average of £716,000 each. Of course pay and conditions are vital tools in recruitment.

Oddly enough PwC has 16,000 employees in the UK so their partners represent 5% of the work force. The NHS has 1 million employees and 40,000 consultants or 4% of the workforce. If senior management are included too it comes to less than 5% of employees. Yet our pay and conditions are far too good. Even if our pension contributions are 35% above the private sector their salary is 716% higher. I know which I'd settle for.

www.thebleedingtime.blogspot.com

If you leave all of the pay and pensions in the private sector and emaciate these in the public sector then ask yourself how many high achieving students would work in the public services. Take a look at the Russian health service to find out.

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