It has been revealed that disgraced banker Sir Fred Goodwin is drawing a pension of £650,000 per year at the age of 50, from a pension fund worth £16m!
Giving evidence to the Treasury Select Committee earlier this month Goodwin said:
My pension is the same as everyone else in the bank who is in a defined benefit pension scheme. It is determined in the same way as anyone else.
This is an appalling reward for first degree failure no matter what “entitlements” were in place at RBS.
Later on Thursday RBS is expected is to announce the UK’s largest corporate loss.
The Government owns 70% of this bank. Goodwin's pension is public money! It is about time the Treasury got a grip!
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