UK - Supermarket giant J. Sainsbury was due to face tough questioning from shareholders at its annual general meeting yesterday over its remuneration report.
PIRC recommended opposition to the report based on the bonuses that would be awarded to executives – especially group chief executive Sir Peter Davis, whose reward, equivalent to 415% of salary and subject to performance, will be paid out in three years.
A PIRC spokesman said: “Inappropriate targets have been attached to share awards for Sir Peter Davis.
“He is being rewarded for below-target performance.”
PIRC also expressed concern that Sir Peter was being remunerated for his role on the nomination committee which, it said, was a standard role for board members to hold.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.