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UK pensions body backs rules to toughen up corporate pay votes

Reuters - UK Focus

LONDON, Feb 17 (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 (Frankfurt: A1J2BZ - news) .

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)