UK - HSBC is under fire for awarding a £36m pay deal to its new director, William F Aldinger III.
The US businessman joined the bank’s executive board following the completion of its £8.8bn takeover of financial adviser Household International.
His pay package will make him the best paid director of any UK-listed company.
The NAPF will be examining the performance criteria attached to the pay deal.
Aldinger will receive an annual salary of £600,000 a year, plus an annual bonus of £2.5m and perks valued at £325,000.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.