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Investors set to clamp down further on UK executive pension perks

Pedestrians and cyclists move through New Bond Street amid the coronavirus disease (COVID-19) outbreak in London
Pedestrians and cyclists move through New Bond Street amid the coronavirus disease (COVID-19) outbreak in London

LONDON (Reuters) - Trade body the Investment Association (IA) said on Monday it had warned the boards of Britain's biggest companies that investors intended to clamp down further on executive pension perks.

The IA said in a statement that it had told companies its governance advice unit would give a "red top" warning against those which fail to draw up plans to align incumbent directors' pensions with the wider workforce by the end of 2022.

(Reporting by Simon Jessop; Editing by Tom Wilson)