RBS shareholders against payouts

Link to the article: Channel 4

Last Modified: 03 Apr 2009
By: John Sparks

Those close to Sir Fred Goodwin deny he is "considering" a voluntary reduction to his pension, despite RBS's new chairman saying just that.

Public outrage at RBS has spilled into its annual general meeting with 90 per cent of shareholders voting against the banks pay and pension policy, including the controversial payout to Sir Fred.

The vote does not mean that RBS's former boss can be compelled to pay any of his pension back, however.