Pensions

Directors’ pension allowances

The executive Directors receive a pension cash allowance equivalent to 20% of base salary.

As first disclosed in the 2019 Remuneration report, the pension provision for incumbent executive Directors will align to the level of the wider workforce, currently 7% of base salary, from the end of December 2022.

For information please read ‘Summary of policy and implementation in 2021’ on page 138 of the 2020 Annual Report.