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Disclosure of director's pensions: new reporting obligations for quoted companies

November 2013

Pensions Alert

From 1 October 2013, there are revised and more onerous requirements to disclose details of directors' remuneration, including pension arrangements, from quoted companies.  The policy objectives of the revision are:

  • giving shareholders more power through binding votes, so they can hold companies to account
  • boosting transparency so that what directors are paid is clear and easily understood.

Remuneration reports have to be in a new format with expanded content and a standard method of disclosure and presentation.  They now have three distinct parts – an annual statement; an annual remuneration report; and a new directors' remuneration policy.  The new forward-looking policy part creates a binding set of commitments by the company on the future remuneration of directors.  Pension benefits have to be disclosed in both the annual remuneration report and the policy.

The team

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