MAILSTROM "I have no country to fight for; my country is the Earth, and I am a citizen of the World." - Eugene V. Debs
Wednesday, September 06, 2006
Pensions for the Fat-Cats
Of course , for some members of the capitalist class , it is a matter of do as i say and not do as i do , when it comes to the claw-backs and attacks on workers pensions and their own pension schemes
Directors at the UK's top 100 companies have built up a pensions pot worth almost £1bn , a report has found
The average director can retire at 60 with a pension worth almost £3m , or paying out £168,000 a year
The proportion of executives in final salary schemes remained above 80% , while many firms had closed such schemes for its staff
It takes staff an average of 40 years to reach full pension compared to 20 years for directors
Three quarters of the companies surveyed said they allowed executives to retire on a full pension at the age of 60
Companies paid in up to 35% of salaries into directors' pensions , compared with the average for all employees of 6.6%
Bosses at the UK's top firms retire on a pension worth at least 71 times that of the basic state pension for a married couple
112 directors currently entitled to a pension worth at least £200,000
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