Oh how the other half live! AVIVA’s chief executive has been handed a huge £1.1m increase to his pension fund, although his annual salary did drop from £1.4m to £1.1m this year.
Our View
Many providers are cutting back on salaries and seem to be giving it back through pension funding or bonus packages. The AVIVA group denies this has happened.
Whilst we understand people have to receive higher salaries for their responsibility, how can you quantify the amount of work involved to justify over £1m? The bonus package received amounted to over 20% for this executive, it’s a shame it wasn’t shared out between the with profits policyholders.