FINANCE NEWS: Charity executives should set example with staff pensions

Senior managers in charities should be encouraged to be part of the same pension scheme as all their employees, the shadow pensions minister Oliver Heald told a charity investment conference last week.

Speaking at the Guardian/CFDG investment conference, Heald said the Conservatives were considering abolishing the lifetime savings cap for occupational pensions, provided all employees "from the highest paid to those on the minimum wage were given access to the same scheme on the same terms".

He also said that more imagination should be shown in designing pensions funds. He praised the work of Pensions Trust chief executive Richard Stroud in developing the template for a reformed final salary pension scheme with a "money purchase profit share". He said the scheme could be used by multiple employers or on a regional or industry-wide basis.

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