I won't give up my £650,000 a year pension': Failed bank boss hits back at Government legal threat

MailOnline ^ | 26 Feb 2009 | Daily Mail Reporter

[AreaMan]

• RBS could be 95% owned by Government
  
• RBS losses are biggest in British corporate history
• Bank to place £325bn toxic debt in protection scheme
• Lloyds in talks with Treasury about joining scheme
  
• 10% of workforce to be axed as 20,000 jobs go

Disgraced bank boss Sir Fred Goodwin has written to the Government to say he refuses to give back any of his £650,000-a-year pension despite widespread outrage at the ex-bank chief's lavish retirement package.

And Sir Fred is said to be 'furious' that details of his £16million pension pot were leaked.

There was anger in the Commons today after the details of the 50-year-old banker's pension deal were revealed.

This afternoon RBS chairman Sir Philip Hampton had said Sir Fred  would 'think about' giving up some of his pension.

Sir Philip said: 'I have asked Fred if, given the events of recent times, would he make a voluntary reduction in his pension. He said he would think about it but I haven't heard back yet.'

[Wolfie]

Don’t worry about it Fred. Madame Dufarge is knitting away just the same.

[Billthedrill]

That works out to $932,000 at today’s exchange rate. You could get by on that if you ate a lot of ramen.

[PGR88]

“..And Sir Fred is said to be ‘furious’ that details of his £16 million pension pot were leaked...”

Sir Fred doesn’t realize he is working with the Gov’t here, and politicians’ agenda is very different from his.

[AreaMan]

That works out to $932,000 at today’s exchange rate. You could get by on that if you ate a lot of ramen.

Whoa there let's not go crazy.....you mean if your personal chef prepares you some ramen.

[OneVike]

It's his money, leave him alone.

Then they came for what was left of my mere $50.00 retirement nest egg, but there was no one left to defend me.........

Woe is me!