Home > banking, europe, finance > Sir Fred Goodwin: minister approved my pension and I’m keeping it

Sir Fred Goodwin: minister approved my pension and I’m keeping it

An embarrassing public row broke out last night between City minister Lord Myners and Sir Fred Goodwin over the former Royal Bank of Scotland chief executive’s refusal to give up his £693,000 a year pension.

Goodwin insisted ministers had known of his £16m pension pot for months and accused Myners of threatening him with more bad publicity if he did not hand back some of the pension he was awarded when he left the loss-making bank last month.

“You highlighted that the absence of such a gesture would give rise to significant adverse media comment,” Goodwin wrote in a defiant and combative letter to Myners which explicitly contradicts the government’s insistence that it did not know the details of his payoff.

This article was originally posted on Guardian. Link to original post

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