Goodwin mulls returning portion of £17m pension

clock

Sir Fred Goodwin, the disgraced former chief executive of RBS, may be finally bowing to public pressure to hand back a portion of his £703,000 a year pension.

Speaking ahead of a difficult AGM for RBS this afternoon, chairman Sir Philip Hampton said Sir Fred was considering a climb-down. Sir Philip said: 'I've asked Sir Fred if he would consider a voluntary reduction and he's told me he's thinking about that.' He said RBS is taking legal advice as to whether it can retrieve any of the funds. Hampton also called for an end to RBS's 'public flogging' in a week which saw G20 protestors vandalise the bank's City branch. RBS is now 70% owned by the state and is planning to shed at least 2,700 staff this year in a bid to cut £2.5bn from annual co...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Nine Edge Wealth sponsors young Scottish boxer

Feel Good Friday: Nine Edge Wealth sponsors young Scottish boxer

Sponsors Lara Brown

Professional Adviser
clock 17 July 2026 • 1 min read
Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Women's Wealth Alliance launches careers guide to attract more women to personal finance profession

Aimed at women at different stages of life and careers

Professional Adviser
clock 16 July 2026 • 3 min read
Women in Financial Advice Awards 2026: Shortlists revealed!

Women in Financial Advice Awards 2026: Shortlists revealed!

All the winners will be announced at a celebratory gala dinner on 4 November

Professional Adviser
clock 15 July 2026 • 10 min read