Pensions professionals cash in with bonuses

Pensions
professionals received a record number of bonus payments in 2001, according to
a survey by Remuneration Economics.

The
Survey of Pensions Managers, Consultants and Administrators surveyed 3,533
pensions professionals nationwide.

More
than six in 10 of respondents said they received a bonus in the 12 months to
November 2001, the highest level in the survey’s 10-year history.

The
payments were worth an average of £2,036, or 8.8 per cent of basic salary. This
contributed to an increase in earnings across the board for pensions
professionals, with the notable exception of company directors whose total
salaries were unaffected.

Most
fortunate were senior function heads whose wages increased by an average of
£8,000 a year. Department managers also saw their average pay rise by around
£5,000 each.

However,
lower down the hierarchy the differences are less dramatic. Section consultants
and senior administrators saw their pay rise by around £1,000 each. For
trainees the figure was less than £700.  www.celre.co.uk

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