Thirty companies in the FTSE 100 have pledged to cut executive pensions in 2019, according to the Investment Association — the second time in a week the trade body has declared a victory as bosses’ pay falls.

The fund managers’ association looked at new pensions policies presented to shareholders during the first seven months of 2019, and said that 10 companies had made cuts to current directors’ pensions, while another 20 had pledged to bring any new directors’ pension contributions in line with the rest of the workforce.