Govt may legislate against Goodwin pension

clock •

Harriet Harman says the Government is prepared to change the law in order to strip Sir Fred Goodwin of his £693,000-a-year pension.

Speaking at the weekend, the deputy Labour leader said the 'court of public opinion' was against the payout, and the Government would step in to ensure he does not receive the full amount. Ministers were slammed by opposition parties last week for signing-off the £16m pension agreement for Sir Fred, who led the Royal Bank of Scotland to post Britain's biggest ever corporate loss of £24bn. Harman claims the Government is considering introducing legislation to strip Sir Fred of some of his pension due to growing public anger over the banking crisis. "Sir Fred Goodwin should not count on...

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

Women in Financial Advice Awards 2026: Photo highlights from the night

Women in Financial Advice Awards 2026: Photo highlights from the night

Celebrating the best women in advice and financial services

Professional Adviser
clock 06 November 2026 • 1 min read
Feel Good Friday: Rathbones donates £35,000 to London Youth

Feel Good Friday: Rathbones donates £35,000 to London Youth

Youth Work Week

Professional Adviser
clock 06 November 2026 • 1 min read
Women in Financial Advice Awards 2026: Winners' gallery

Women in Financial Advice Awards 2026: Winners' gallery

Championing women in advice and financial services

Professional Adviser
clock 05 November 2026 • 1 min read