U.K. Should Abandon Executive Pay Benchmarks, Pension Group Says
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U.K. companies should abandon the practice of setting executive pay against benchmarks because it leads to an “upward spiral” in compensation, according to a pension-fund adviser.
Directors’ pay is inflating, while profit increases are muted or non-existent, the Local Authority Pension Fund Forum, which represents funds with 115 billion pounds ($174 billion) of assets, said in a report published today.