Taxpayers to cover RBS pension deficit

In the company's annual report, the funding position of its defined benefit scheme declined from a surplus of £340m to a deficit of almost £2bn. The report showed the company would make a cash contribution of £810m to the scheme in order to partially close the gap. The RBS fund, which closed to new members in 2006, still has some 65,000 members still accruing benefits and 165,000 deferred or pensioner members. The news comes soon after it emerged former chief executive Sir Fred Goodwin was eligible for annual pension payments of £693,000 a year and had earned a pension pot worth in exce...