FSA decides pay on pension type; the body has cut rises to final-salary scheme members.
| Author | Hayward, Cathy |
| Position | Reward |
The Financial Services Authority, the regulatory body that oversees corporate governance, is to award lower pay increases to members of its final-salary pension fund than to employees on its riskier money-purchase scheme.
The 900 employees in the watchdog's final-salary scheme will receive average pay rises of 4.2 per cent, whereas members of the money-purchase scheme will receive 6.7 per cent. The watchdog blamed the cost of the final-salary scheme, which has grown from 4.7 million [pounds sterling] in...
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