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Unite's reaction to Fred Goodwin's pension

26th February 2009

Commenting on news that RBS' 50-year old former chief executive receives a company pension of £650,000 per year, Unite's joint general secretary, Derek Simpson, said: "Fred Goodwin's pension is a national scandal. He was at the helm when RBS took the decisions which led to the current catastrophe. RBS have announced record losses and thousands of job cuts as a result.

"The government had to intervene to cut bonuses for the existing staff at the bank but  Goodwin is still being allowed to walk away with a platinum pension.

"There should be an immediate investigation into how Fred Goodwin was allowed to walk away with so much when workers at the bank are facing job cuts and the taxpayer has been forced to bail out this bank."

ENDS

Contact: Ciaran Naidoo 07768 931 315

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