UK - Pension contributions for FTSE100 executives are three times as high as those paid for their FTSE250 counterparts, figures by Lane Clark & Peacock (LCP) reveal.

Additionally, the firm estimated changes proposed to tax relief on pensions could cost a director £33,000 a year.

While pay deals for directors at FTSE250 companies stipulate an average of 26% of basic pay as additional pension contributions, those at blue chip companies receive almost an additional 50%.

Mark Jackson, partner at LCP, said the discrepancy was the result of FTSE100 companies not switching to DC schemes, whereas many of the mid-cap companies had already reformed their system.

"As more and more FTSE100 companies turn their back on DB pensions, we expect the gap to narrow - the difference between DC pensions for FTSE100 and FTSE250 executives is less marked," he added.

Overall, only 10 FTSE250 companies still offer DB-only pensions to their directors, with 10% of all new management appointments being offered DB schemes.

LCP also said chancellor George Osborne's proposal to lower the annual tax-free allowance for pension contributions to £30,000-45,000 could cost executives as much as £100,000 a year.

Jackson warned that changes could result pension savings being taxed twice - once when workers save and again when they reach retirement.

He said: "That's hundreds of thousands of employees facing double taxation on their pension saving."