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Sir Fred 'considering pension cut'

Apr 3 2009

Former Royal Bank of Scotland boss Sir Fred Goodwin is considering a "voluntary reduction" in his £703,000-a-year pension payout, the bank confirmed.

Chairman Sir Philip Hampton said Sir Fred was thinking about the move, but said it was too soon to know what the outcome would be.

He told Sky News: "I've asked Sir Fred if he would consider a voluntary reduction and he's told me he's thinking about that."

The comments come ahead of the bank's annual general meeting in Edinburgh, when angry shareholders are expected to vote down RBS's remuneration report in protest at Sir Fred's controversial pension payout.

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