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Exclusive: Pension Pots For Top Company Bosses Soar To Record Levels

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http://www.independent.co.uk/money/pensions/exclusive-pension-pots-for-top-company-bosses-soar-to-record-levels-2349034.html

Britain's top company bosses can look forward to pension pots that have soared by 70 per cent in less than a decade and are now at record levels, according to new statistics to be published this week.

The five biggest pension pots of FTSE 100 directors are worth more than £84m combined – nearly 600 times greater than the £150,000 that the average retirement fund of five working Britons would come to.

The sheer size of the funds set by for their retirement could give four of the five top directors annual incomes of more than £1m.

Nice.

Lucky for the workers we are all in this together.

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Now if the top people in the public sector were creaming off this sort of money, then all hell would let loose :)

Next time you moan about bank charges & energy prices shooting through the roof, just remember who's pensions you're funding.

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Something doesn't make sense there.

If a pension pot exceeds the lifetime limit, which is something under 2 million, it turns from being tax-efficient to being taxed a lot more heavily than ordinary earned income. Why anyone should want to trigger that kind of penalty eludes me.

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Nice.

Lucky for the workers we are all in this together.

We are all in the same stinking pit together, which is why some people stand on top of everyone else to escape the stink.

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Something doesn't make sense there.

If a pension pot exceeds the lifetime limit, which is something under 2 million, it turns from being tax-efficient to being taxed a lot more heavily than ordinary earned income. Why anyone should want to trigger that kind of penalty eludes me.

As long as the marginal tax rate is less than 100%, I would be happy to trigger any limit.

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Sunday Times was reporting £1M+ pension pots for Quango bosses too plus tons more money for early retirement. Some people just can't fail to loose out!

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The five biggest pension pots of FTSE 100 directors are worth more than £84m combined – nearly 600 times greater than the £150,000 that the average retirement fund of five working Britons would come to.

Whilst the point they're trying to make is fair (bosses being overpaid), i'm not sure comparing the *five* highest-paid bosses vs the average is terribly meaningful.

I'm sure you could make any figure seem excessive if you looked at the top 5 versus the average.

A better figure might be the average boss's pension vs the average staff pension. I bet it would still be an eye-watering multiple without being an unfair comparison.

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Sunday Times was reporting £1M+ pension pots for Quango bosses too plus tons more money for early retirement. Some people just can't fail to loose out!

....it's the taxpayers who lose out... :rolleyes:

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Can I just point out here that kids who steal bottled water from looted shops deserve prison sentences- it's important that rule of law be maintained- if only to ensure that those who loot through other means get to keep the benefits.

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Been going on for years.

Its over two decades since I worked for the Inland Revenue but I remember carrying out tax audits in the 1980s on companies where the payments made annually into the Directors pension schemes were more than the yearly wages of all the rest of the staff combined. These were medium sized businesses with a fair number of employees not one or two man companies with a couple of workers.

Edited by stormymonday_2011

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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