Hank McKinnell, Pfizers' chairman (pic - "enhanced" by Insider), is expected to receive a yearly pension of $6.5 million when he retires in a few years.
The company's newest proxy statement says McKinnell, a 35-year veteran of the company, will qualify to start collecting the pension if he retires in 2008 at age 65 as anticipated.
The pension is one of the highest payouts projected for a corporate executive on companies that comprise the bellwether Standard & Poor's 500 index, according to a study by a Maine-based group.
McKinnell, 63, has served as Pfizer's chairman since May 2001 and as chief executive officer since January 2001. Last year, he received nearly $2.3 million in salary and a $3.7 million bonus, according to the proxy statement.
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