whatsapp Pension funds question investor acceptance of remuneration committees Wednesday 18 January 2017 2:08 pm As such, a vote against the remuneration policy should in most circumstances be accompanied by a vote against the chair of the remuneration committee, if they have been in post for more than one year. Oliver Gill Investors are being urged to up their game in the debate over executive pay by taking a tougher stance on the committees that sign-off remuneration policy.The Pensions and Lifetime Savings Association (PLSA), which represents over 1,300 pension schemes and representing £1 trillion in assets, today revealed new guidelines on corporate governance policy. Share PLSA policy lead Luke Hildyard added: “Our new guidelines are designed to ensure the individuals responsible for a company’s executive pay practices are held to account.”Read more: In Theresa May’s exec pay crusade, the devil will be in the detailLast week, the world’s largest fund manager, Blackrock, wrote to the chairman of every FTSE 350 firm, urging them to cap executive remuneration.Blackrock said in its letter that it would only approve salary rises for directors if the wages of ordinary employees are increased proportionally.In announcing its new guidelines, the PLSA reiterated its position on the matter.“Provocative levels of executive pay are doing great damage to the reputation of British business. The failure of some companies to recognise stakeholder concerns on this issue is a major worry for pension funds as investors,” said Hildyard. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoTheFashionBallAll The Reasons It Won’t Last With Meghan – According To HarryTheFashionBallUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibeUndoSportPirateMeet The Woman Catherine Bell Is Dating At 52SportPirateUndo whatsapp Read more: Aberdeen calls for greater shareholder powers over exec paySimilar to other investor groups, the PLSA has previously raised concerns over the pay gap between executives and ordinary workers.Serious failureBut it highlighted that while large proportions of its members had voted against pay levels, only a small number opposed the re-election of the chairs of oversight bodies that approve exec pay: the remuneration committees.”If the process of engagement prior to the AGM vote fails to produce a remuneration policy that shareholders can support, this represents a serious failure on part of the chair of the remuneration committee in the most fundamental aspect of their role,” the PLSA report outlined.