Sir Fred's £1 gift to RBS shareholders
THE average shareholder in Royal Bank of Scotland will only save £1 from the reduction in former boss Sir Fred Goodwin's pension.
The RBS Shareholder Action Group welcomed the reduction in Sir Fred's pay-out, to 342,500.
But it said that it won't provide any comfort for the Edinburgh-based bank's shareholders, who have suffered hefty financial losses on the value of their shares.
Many shareholders bought shares in RBS and other banks to provide for their retirement and have seen their capital and income virtually wiped out.
Roger Lawson, director of the RBS Shareholder Action Group, said: "The amount RBS will save on Sir Fred's pension is equivalent to about 1 per shareholder per year. Hardly a significant sum in relation to the overall finances of the company and the losses those shareholders have suffered.
"This is one reason why we consider this a mere distraction in comparison with the key issues the company needs to address."
Email to a friend
Print this page- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish independence: Alex Salmond’s pledge to sign up 1m voters
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Sunday 27 May 2012
Today
Sunny
Temperature: 9 C to 22 C
Wind Speed: 13 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 9 C to 21 C
Wind Speed: 15 mph
Wind direction: North east
