Dispatches research has identified 21 former bankers with pension pots of over £1million.
Outlined below is the total value of actual or potential pension pots taken away by former directors of British banks that were either partly or fully nationalised or were taken over as a result of the financial crisis.
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Banker Larry FishSir Fred Goodwin Sir James Crosby Colin Matthew Peter Cummings Mike Fairey Robert Bennett Richard Pym Mark Fisher David Baker Steve Crawshaw Andy Hornby Adam Applegarth Keith Currie Chris Rodrigues Phil Hodkinson Andy Kuipers Chris Rhodes Johnny Cameron Richard Banks David Jones |
Bank RBSRBS HBOS HBOS HBOS Lloyds Northern Rock A&L RBS Northern Rock B&B HBOS Northern Rock Northern Rock B&B HBOS Northern Rock A&L RBS A&L Northern Rock |
Pension Pot £18m£16.9m £10.4m £9.1m £7.1m £7m £6.7m £5.5m***** £4.8m******* £4.3m £3.6m £2.8m £2.6m £2.5m***** £1.8m £1.6m***** £1.5m***** £1.4m***** £1.3m £1.2m***** £1.1m***** |
Annual Payout £1.5m£703k* £572k** £416k £352k*** £0**** £324k £302k****** £398k* £301k*** £105k* £240k******* £305k******* £211k*** £113k £96k*** £143k*** £121k******* £62k £65k £101k******* |
Grand total = £112 million
* Pension reduced by taking cash sum. Goodwin cash of £2.7m will reduce pension to £555,000. Crawshaw pension reduced by taking £412,500 cash.
** Crosby pension available from 55 in 2011
*** Pension reduced for early retirement
**** Fairey took entire pension as cash sum
***** Lower than actual figure as no final figure available
****** Pym pension available at 60, September 2009
******* Pension not claimable until 50/55. Applegarth's full pension at 60 in 2022, reduced pension from 55.
Source: Channel 4 Dispatches – Annual Reports and Accounts 2004 – 2007
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