PwC Says Trustees Are Lowest Paid Staff In Pension Schemes

Law360, London (February 9, 2021, 5:05 PM GMT) -- Consulting giant PwC has found that trustees are the lowest paid staff members in pension management despite the fact that tougher regulation as well as the COVID-19 outbreak are demanding that they put in more hours than ever.

PwC said Monday that it found in its Trustee Pay Survey that trustee board chairs are paid an average of £54,000 ($74,000) a year — approximately 5% of the total annual cost of managing a typical defined benefit pension scheme. The figure is less than 25% of the average pay of the chair of a major company board, PwC found in its survey...

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