fred goodwin(and his pension)

[cabbageandribs1875]

noticed he's 'offering' to cut his pension by 200k per year :shocked: http://news.bbc.co.uk/1/hi/business/8106815.stm


Former Royal Bank of Scotland boss Sir Fred Goodwin has offered to reduce his pension by £200,000 a year. The reduction would cut the value of his pension pot by about £4m, but it would still leave him with a pension of about £350,000 a year.


why on earth would he offer to cut it by such a huge amount(considering it appears to be contract-proof) :dunno: or has the govt threatened to take away his title or something else :confused:


P.S. how on earth is the poor man expected to live on a paltry 350k/year pension :boo hoo:

[Woody1985]

noticed he's 'offering' to cut his pension by 200k per year :shocked: http://news.bbc.co.uk/1/hi/business/8106815.stm


Former Royal Bank of Scotland boss Sir Fred Goodwin has offered to reduce his pension by £200,000 a year. The reduction would cut the value of his pension pot by about £4m, but it would still leave him with a pension of about £350,000 a year.


why on earth would he offer to cut it by such a huge amount(considering it appears to be contract-proof) :dunno: or has the govt threatened to take away his title or something else :confused:


P.S. how on earth is the poor man expected to live on a paltry 350k/year pension :boo hoo:

Because they were going to take him to court. He'd probably have lost more had he gone through a lengthy legal battle for x amount of years. Plus it would be constantly hanging over him. 200k a year for peace of mind is probably nothin to a multi millionaire (not that I'd know!).

[Kerrplunk]

Is Ken Fred's brother???:rolleyes:

[Andy74]

Because they were going to take him to court. He'd probably have lost more had he gone through a lengthy legal battle for x amount of years. Plus it would be constantly hanging over him. 200k a year for peace of mind is probably nothin to a multi millionaire (not that I'd know!).

A succesful legal case was unlikely as he wasn't sacked.

Much of the delay was that Fred wanted to wait until the end of an RBS internal enquiry on whether there was any evidence of misuse of expenses or company assets which could have led to a forced reduction. The enquiry showed there had been so such misuse.

It's not really going to make much odds as far as public perception goes on this so he'll probably not get much 'benefit' in giving it back.

[Woody1985]

A succesful legal case was unlikely as he wasn't sacked.

Much of the delay was that Fred wanted to wait until the end of an RBS internal enquiry on whether there was any evidence of misuse of expenses or company assets which could have led to a forced reduction. The enquiry showed there had been so such misuse.

It's not really going to make much odds as far as public perception goes on this so he'll probably not get much 'benefit' in giving it back.

I appreciate that but he would have had it hanging over him for years which he wouldn't want.

You're right, if I was him I wouldn't give it back now. If he had taken the decision originally then it may have put him in a more favourable light. Now there is no point because everyone thinks he's a prick anyway (rightly or wrongly).

[cabbageandribs1875]

Is Ken Fred's brother???:rolleyes:



you noticed my deliberate slip eh :greengrin that's the fella :agree:

[Hibs Class]

A succesful legal case was unlikely as he wasn't sacked.

Much of the delay was that Fred wanted to wait until the end of an RBS internal enquiry on whether there was any evidence of misuse of expenses or company assets which could have led to a forced reduction. The enquiry showed there had been so such misuse.

It's not really going to make much odds as far as public perception goes on this so he'll probably not get much 'benefit' in giving it back.

So such misuse? I'm sure you're kicking yourself for defending him so strongly before then! :wink:

[Phil D. Rolls]

Is Ken Fred's brother???:rolleyes:

Settle down now, settle down.

http://www.youtube.com/watch?v=CpQRBgVmCV8

[ancient hibee]

He's an example to us all-let's dock everyone's income by 40% and get the country back on its feet.Think I'll start the "Sir Fred"party-can I claim expenses for that?