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18/06/2009
Ex Bank Chief To Return Some Of His Pension
The former Royal Bank of Scotland (RBS) boss, Sir Fred Goodwin, is to hand back some of his £703,000 a year pension, it has been revealed.
It is understood he is preparing to give up as much as £200,000 a year, which would cut the value of his pension pot by around £4 million.
It is unclear if his offer will be accepted by the Government, as it has a say in the decision because it owns 70% of RBS as a result of the taxpayers' £20bn bail-out.
RBS, The Treasury and Sir Fred's spokesman declined to comment.
Sir Fred, nicknamed 'The Shred' sparked a public outrage earlier this year after refusing to give back any of his £16 million retirement money.
He had already resigned before the bank announced losses of £24.1 billion, the largest in UK corporate history.
(CD/BMcC)
It is understood he is preparing to give up as much as £200,000 a year, which would cut the value of his pension pot by around £4 million.
It is unclear if his offer will be accepted by the Government, as it has a say in the decision because it owns 70% of RBS as a result of the taxpayers' £20bn bail-out.
RBS, The Treasury and Sir Fred's spokesman declined to comment.
Sir Fred, nicknamed 'The Shred' sparked a public outrage earlier this year after refusing to give back any of his £16 million retirement money.
He had already resigned before the bank announced losses of £24.1 billion, the largest in UK corporate history.
(CD/BMcC)
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Ex-RBS Boss Urged To Give Up Pension, As 'Largest Annual Losses' Announced
The failed boss of the Royal Bank of Scotland (RBS) has been called upon to give up his £650,000-a year pension, as the institution posts its largest annual loss in UK corporate history. Prime Minister Gordon Brown has threatened legal action if disgraced former RBS chief Sir Fred Goodwin fails to comply with the request, it has emerged.
Ex-RBS Boss Urged To Give Up Pension, As 'Largest Annual Losses' Announced
The failed boss of the Royal Bank of Scotland (RBS) has been called upon to give up his £650,000-a year pension, as the institution posts its largest annual loss in UK corporate history. Prime Minister Gordon Brown has threatened legal action if disgraced former RBS chief Sir Fred Goodwin fails to comply with the request, it has emerged.
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RBS 'Could Be Privatised' By Next Year
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RBS 'Could Be Privatised' By Next Year
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