February 17, 2017 / 11:55 AM / 3 years ago

UK pensions body backs rules to toughen up corporate pay votes

LONDON (Reuters) - Britain’s Pensions and Lifetime Savings Association (PLSA) on Friday called for new rules to ensure a ‘super majority’ of investors were needed to sign of on a company’s pay plans, as part of a government consultation.

The PLSA joins other investors, including Fidelity International, in looking to toughen up the rules on pay votes after several high-profile rebellions in recent years, including at BP and WPP.

The group also said it backed the release of data showing the pay ratios between the CEO and UK workers, and also supported the creation of a separate panel or committee to monitor the company’s impact on its various stakeholders.

Reporting by Simon Jessop, editing by Maiya Keidan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below