More bad news for Sports Direct’s employees.
According to a survey led by betting firm Banc De Binary, the sporting goods retailer has emerged as one of the lowest retirement plan contributors in the UK.
Tycoon Mike Ashley, whose sporting empire includes Newcastle United Football Club, pays the lowest average pension handout per employee in the FTSE 100.
The survey claims that around about 90% of Sports Direct staff are on controversial zero hours contracts, which means many are likely to be exempt from pensions auto-enrolment. Based on this, Banc De Binary calculated that Sports Direct pays an average annual pension payment of just £88 per employee.
Banc De Binary also found that Whitbread and catering giant Compass were also among the FTSE 100’s lowest pension contributors, with an average payment of £188 and £194 per employee respectively.
Sports Direct declined to comment.