Business needs large pensions

MULTI-million pound pension pots can be justified for the leaders of Britain’s top companies, according to the Confederation of British Industry.

The CBI spoke out after the Trades Union Congress (TUC) said the five largest pension pots of FTSE 100 directors are worth more than £84m combined.

“High rewards for real business achievements which secure growth and jobs for thousands of employees are necessary and acceptable, but soft targets or payment for failure are not,” a CBI spokesperson said.