UK - The National Association of Pension Funds will take a close look at Barclays Bank's annual report to ensure the chief executive's £1.39m pay rise is in line with performance.
And banking union Unifi said it is very hard to square Mike Barrett’s 100%-plus rise with the 3-4% increases given to staff.
Barrett’s overall package more than doubled to £3.9m last year with his basic remuneration increasing from £1.7m to £3.09m. This included a £1.9m bonus which was almost four times the previous year.
He also received shares worth £831,000 from an executive share award scheme, and a £990,000 pension fund top-up.
An NAPF spokesman said: “We have no problem with world class salaries as long as they are tied to world class performance.”
The bank posted record pre-tax profits of £3.8bn last year and said bonuses had been boosted as a result of the group’s “strong corporate performance”.
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MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.