Rudolph Hooker --- Pension Funds
Whilst perusing the Times in a canal side pub recently I read an article which stated that most peoples pensions had halved in value over the last 10 years. Tell me about it I thought. Then something the Vole mentioned set me thinking.
The MD of AV2010(PLC) recently stated, in public, he had not had a pay rise in two years. Was this true I thought ? One way to find out. Owning a few shares in AV means I get a copy of the annual report / accounts. After several hours of scanning the boring stuff what do I find? Buried deep in the accounts I find that whilst the "pay freeze" was true , the MD had had over £ 500K paid into his private pension scheme by Av(2010) over the last 2 years to top up his salary of 300k p.a.
Not bad eh? I wonder how much the average employee of AV has had put in theirs? (Of course the more recently appointed staff aren't entitled to join the pension scheme.... Matt)
As an old friend of mine always said "There are lies , damned lies and accounts..."
The MD of AV2010(PLC) recently stated, in public, he had not had a pay rise in two years. Was this true I thought ? One way to find out. Owning a few shares in AV means I get a copy of the annual report / accounts. After several hours of scanning the boring stuff what do I find? Buried deep in the accounts I find that whilst the "pay freeze" was true , the MD had had over £ 500K paid into his private pension scheme by Av(2010) over the last 2 years to top up his salary of 300k p.a.
Not bad eh? I wonder how much the average employee of AV has had put in theirs? (Of course the more recently appointed staff aren't entitled to join the pension scheme.... Matt)
As an old friend of mine always said "There are lies , damned lies and accounts..."
