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

IA Public Register data

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...