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

News editor's view: The advice profession is getting bigger, but is it getting better?

News editor's view: The advice profession is getting bigger, but is it getting better?

The news editor's Friday Night Takeaway from 11 September

Isabel Baxter
clock 11 September 2026 • 3 min read
Feel Good Friday: Rosemount renews mental health partnership for advisers

Feel Good Friday: Rosemount renews mental health partnership for advisers

Supporting The Global Returns Project, Grief Encounter, FoodCycle and Verve Foundation

Professional Adviser
clock 11 September 2026 • 1 min read
Is compliance the hidden driver of business value and saleability?

Is compliance the hidden driver of business value and saleability?

'The reality is simple - buyers will pay more for certainty'

Paul Bruns
clock 09 September 2026 • 7 min read