Desmond looks

forward to retirement

Richard Desmond can look forward to a happy
retirement. The owner of among other publications
the Daily Express and its Sunday sister saw
his pay and pension contributions rise by almost a
half (+49.1%) to £40.7 million, according to the 2006
accounts for RCD1 Limited.
The rise was largely as a result of Desmond squirrelling £40 million away in pension contributions
— up from £26 million in 2005. Meanwhile, he paid
himself 48.1% less as his salary fell to £662,000 from
£1.3 million the year before.

Compare this with the average Local Government Pension of £2,800
Per year