Investors up pressure on FTSE bosses' pensions in 'unprecedented AGM season'

IA Public Register data

Mike Sheen
clock • 3 min read

Concerns over executive pensions led to 64 shareholder rebellions across 45 FTSE All-Share companies in the 2020 AGM season, with ongoing investor pressure leading to further commitments to reduce contributions at the UK's largest firms.

Investment Association data published on Saturday (17 October) revealed 14 FTSE companies reduced pension contributions for existing directors in 2020 and a further 43 committed to reduce contributions in future years. As a result of growing pressure on executive pensions in recent years, 98% of FTSE 100 companies have now either aligned the pension contributions of new directors with that of the workforce or committed to doing so, according to the IA, which found an additional six FTSE 100 companies are increasing their workforce rate as part of their effort to align pension contributio...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Trustpilot