Sir Fred Goodwin won’t budge over £17m pension pot
Sir Fred Goodwin, the vilified former chief executive of Royal Bank of Scotland, refused last night to surrender his £693,000-a-year pension, claiming that the Government had approved it.
He put himself on a collision course with the Treasury on a day when RBS announced a £24.1 billion annual loss and received a second state bailout.
Sir Fred publicly spurned a personal plea from Lord Myners, the City Minister, and public demands from Alistair Darling and Gordon Brown, to give up some of …
Sir Fred Goodwin, the vilified former chief executive of Royal Bank of Scotland, refused last night to surrender his £693,000-a-year pension, claiming that the Government had approved it.
He put himself on a collision course with the Treasury on a day when RBS announced a £24.1 billion annual loss and received a second state bailout.
Sir Fred publicly spurned a personal plea from Lord Myners, the City Minister, and public demands from Alistair Darling and Gordon Brown, to give up some of his pension pot. It doubled to £16.9 million last October when he agreed to take early retirement.
Furious that the details of his pension arrangements and his conversation with Lord Myners had been made public, Sir Fred retorted in a letter that the minister had been aware of the deal and had twice sanctioned it personally.
