Executive Directors participate in the Balfour Beatty Pension Fund.
Executive Directors participated in the Balfour Beatty Pension Fund (the Fund) during 2013. The defined benefit (DB) section of the Fund provides for a pension at a normal retirement age of 62 for pension purposes. The defined contribution (DC) section of the Fund is a money purchase scheme with a normal retirement age of 65. Each Director pays an annual contribution equal to 5% of contributory salary except where the Director participates in the Company’s SMART Pensions salary sacrifice arrangement as outlined in Note (2) in the Directors’ 2013 remuneration table.
Details of the Company's Directors' pensions and pension allowances are set out in the remuneration report 2013.