Tesco chief executive Dave Lewis is in line for a £313,000 contribution to his pension this year as he plans to cut retirement benefits for his staff.
The supermarket giant’s annual report shows Lewis will get 25% of his salary as a pension contribution this year.
This is despite one of his first decisions in the job being to close the company’s defined benefit scheme, which guarantees a pension based on earnings and length of service.
Meanwhile, it emerged that former chief executive Philip Clarke was paid £764,000 last year, and Tesco continued making payments to him until February, despite the fact he stepped down in September.
The company confirmed it would “seek recovery” of the £1.2 million it paid Clarke as a termination payment if it is proved that he committed gross misconduct.
Lewis’s total pay last year came to £4.1 million despite the fact he only arrived in September, £3.3 million of which came from paying for bonuses he would have received from his former employer, Unilever.
