Calls for Myners to resign over RBS pension debacle

clock

The Government is under pressure to sack Treasury Minister, Lord Myners, who approved a £693,000-a-year pension for former RBS boss Sir Fred Goodwin, despite the bank posting losses of over £24bn.

Gordon Brown has said he is angry about the £16m deal, but the Conservatives have branded his anger as 'synthetic' after it was revealed the Treasury had known about the pension since October. Lord Myners claims he was under the impression the pension was a legally-binding contractual arrangement in October. Chancellor Alistair Darling says the Treasury only became aware of the true nature of the arrangement 'in the last few days.' Trade Unions says Lord Myners should resign over the blunder as he was either aware of the arrangement or did not bother to check the details. The Prime M...

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

Why human connection remains central in a digitally enabled advice sector

Why human connection remains central in a digitally enabled advice sector

'It is clear that the sector is moving through a significant period of transformation'

Tim Riseborough
clock 17 December 2025 • 3 min read
Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read