Several recent corporate governance scandals relate to non-disclosure or high amounts of pension benefits given to executive directors. The lack of disclosure and transparency has gained pensions benefits greater attention as a significant part of the total remuneration received by executive directors. Due to the associated problems there is a greater need for better disclosure and in turn heightened transparency towards shareholders.  

This qualitative case study focuses on general retailers in Sweden and the United Kingdom. Due to the lack of research five general retailers from respective country were chosen to be examined and compared during 2006-2010. The aim is to examine the disclosure of individual pension benefits of executive directors and the development in levels of pension benefits in the following general retailers Bilia, Clas Ohlson, Debenhams, Dunelm Mill, Fenix Outdoor, Halfords, JD Sports Fashion,  Kappahl, Mekonomen and N Brown Group.

The findings show that the majority of general retailers have complied with their respective corporate governance code during 2006-2010. The level of disclosure has differentiated, where UK general retailers have a higher level of individual disclosure. The development in levels of pension benefits has shown that there are higher amounts of pension benefits in Swedish general retailers. A negative trend in the development of the Chief Executive Officers amounts of pension benefits has mainly been present in 2007-2009. Reversal of the negative trend came in the last year of the case study. No distinctive trends were found in the development of pension benefits for all other executive directors.