Who will be getting what in the pensions rich list.
John Varley pictured above
Age: 53
Group Chief Executive, Barclays
Transfer value accrued of pension at Dec 2008: £12,328,000
ANNUAL AMOUNT: £634,500
Source: Barclays' AnnualReport (page 180.)
(NB: John Varley is a member of the now closed UK pension scheme)
John Varley has been with Barclays nearly all his working life and became Chief Exec in 2004. In February this year he announced bonuses for top directors would be scrapped as Barclays exceeded their profit goal for 2008. He was the first bank exec to say 'sorry' voluntarily: he told the BBC (Dec 2008): 'It starts by saying sorry. It starts by admitting things went wrong.' He is married to a member of the Pease family which sold their bank to Barclays in 1902.
George Fairweather
Age: 51
Group Finance Director, Allied Boots
Transfer value of accrued benefits 31 March 2009: £2,162,000
ANNUAL AMOUNT: £115,800
Source: Allied Boots Annual Report 2008/09 (page 56.)
George Fairweather was appointed Group Finance Director of Alliance Boots in July 2006. He was formerly the finance director of Alliance UniChem before it merged with Boots in 2005. He's a member of The Institute of Chartered Accountants of Scotland.
Steve Duncan
Age: 56
Executive Chairman, Health and Beauty Division, Allied Boots
Transfer value of accrued benefits 31 March 2009: £3,324,000
ANNUAL AMOUNT: £161,200
Source: Allied Boots Annual Report 2008/09 (page 56.)p>
Terry Leahy
Age: 53
Chief Executive Officer, Tesco
Transfer value of total accrued pension on 28/02/09: £12,130,000
ANNUAL AMOUNT: £624,300
Source: Tesco Annual Report 2009 (page 56)
Note - Sir Terry Leahy is entitled to retire at any age from 57 to 60 inclusive with an immediate pension of two-thirds of base salary.
Sir Terry Leahy joined Tesco straight after graduating from the University of Manchester Institute of Science and Technology (UMIST) in 1979. He joined as a marketing executive and climbed his way up to become chief exec in 1997. IN 2004, he was named European Businessman of the Year by Fortune magazine. He was knighted in 2002, soon after having received the honour of the Freedom of the City of Liverpool. He's the third of four brothers, and the only one to get any higher education.
Roger Owen
Age: 61
Transfer value of accrued pension as at 1 Feb 09: £5,257,000
ANNUAL AMOUNT: £230,900
Source: Morrisons Annual Report 09 (page 38).
NOTE: Roger Owen retired on 1 Feb 09 and the pension shown is his early retirement pension.
Roger Owen resigned as group property director from Morrisons earlier this year. He joined the Bradford-based supermarket in 1975 when it only had 12 stores and has seen it out-perform many of its rivals. It has now nearly 400 stores.
Mark Allen
Age: 49
Chief executive, Dairy Crest
Transfer value of accrued pension as at 31 March 09: £555,000
ANNUAL AMOUNT: £30,900
Source: Dairy Crest Annual Report 09 (page 42)
Mark Allen took over the running of Dairy Crest in 2006 when he was 45. He spear-headed heavy marketing investment, including using former Sex Pistol Johnny Rotten to help advertise the Dairy Crest Country Life brand. Dairy Crest has recently closed its final salary pension scheme to existing members.
The annual pension was calculated by City actuaries for Channel 4 Dispatches using pension pots as published in annual reports, and based on industry standard calculations involving the purchase of a retirement annuity.
