Sir Fred Goodwin and an Employer’s Right to Claw Back Bonus

Posted in : Supplementary Articles NI on 27 March 2009
Patricia Rooney
Issues covered:

Tughans Solicitors outline the steps required to vary employees' terms and conditions of employment.

The refusal of the former Royal Bank of Scotland Chief Executive, Sir Fred Goodwin, to give up his £693,000 annual pension has sparked controversy in recent weeks with former ally Gordon Brown calling on him to waive at least some of his entitlement. Whilst Mr Goodwin insists his pension pot was fairly agreed, there are claims that the RBS Board was not aware that the award was discretionary and that the majority shareholder in the bank, the Government, had not been fully appraised.

The argument has culminated in a suggestion that legislation should be introduced ensuring that the pension

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This article is correct at 27/03/2009

The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.

Patricia Rooney

The main content of this article was provided by Patricia Rooney. Contact telephone number is 028 9055 3300 or email

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