But the wage restraint or bad conditions never apply to the senior managers do they.
I mean a 2 and half percent rise on a million is not much to get by on.
Also working more then one day a week is a bit much to ask!
Unfortunatly i don't know the pension of the chairman.
What about MPs
An MPs parliamentary salary is £60,277 from 1 November 2006
Then there is their pension and its nothing like the Royal Mail one:
http://www.telegraph.co.uk/news/main.jh ... ens213.xml
''MPs voted to improve the benefits of their pension two years ago, so that
it accrues at a rate of one fortieth of final salary for each year. They also increased their contributions into the scheme to nine per cent of salary.
As a backbencher is paid more than £57,000 and the maximum pension allowed under Inland Revenue rules is two thirds of final salary, then the most valuable pension for them today is £38,000.
MPs' pensions, like most of those on the public payroll, are index-linked and provide widows' benefits, which makes them more expensive. Legal & General said it would cost £1,029,254 to buy an annuity today producing the same income for a 65-year-old man in the private sector.
Adrian Boulding, an actuary at the insurer which manages £146 billion for more than a million pension savers, said MPs have to contribute to their scheme for 26 years to obtain maximum benefits.
So, at nine per cent of salary, and allowing for pay rises averaging three per cent per annum over that period of more than a quarter of a century, an MP will pay in a total of £241,500.
That would produce a pension of nearly £93,000 a year for the MP 26 years later.
But, if exactly the same contributions are paid into a private sector pension over the same period, then they would produce less than a quarter of that. Mr Boulding said that, assuming investment returns of seven per cent per annum within the plan and deducting one per cent per annum management charges, then the pension would be only £22,300 in 26 years.
Because of the cost of tax relief on pension contributions, Inland Revenue rules restrict the maximum sums that can be paid into pensions. Mr Boulding said: "No individual would be allowed to pay in sufficient contributions to buy a pension of £92,946 per annum.''