19 June 2009
Former Royal Bank of Scotland chief Sir Fred Goodwin has agreed
with RBS to reduce his pension by £200,000 a year. The government
has also accepted the deal.
RBS chairman Sir Philip Hampton said it marked a "very
substantial reduction" but unions called it a "small gesture".
The government has a say in the pension deal because it owns 70%
of RBS as a result of a £20bn bail-out.
