Pensions specialists' pay rises tumble

Pensions specialists saw their pay rises begin to slow last year as the first effects of the banking crisis and recession were felt.

CELRE's 2009 Salary Survey of Pensions Managers, Consultants and Administrators shows that the headline rate of increase in basic salaries plus bonuses across the sector fell from 7.6% in 2007 to 4.7% in 2008.

Worst hit were pensions consultants, whose headline rate of increase in basic salaries plus bonuses fell from 9.8% to 4.6%.

The survey is based on data supplied by 41 companies on 920 specialist pensions managers, consultants and administrators.

Find out more about the Salary Survey of Pensions Managers, Consultants and Administrators.