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    Fred Goodwin pension

    Banned
    Is it just me or does anyone else feel this is just a smokescreen for the goverment covering up their own failings?

    OK, he has a massive pension, but it was agreed by Lord Myners. Surely he should be the one getting sacked and losing his pension for allowing this to be approved.

    So Goodwin was crap at his job, if everyone who was crap at their jobs lost their pension there would be a lot of people without any money when they are older!

    10 Comments

    Original Poster Banned

    And as for Harriet Harman and her 'it may be enforceable in a court of law but it is not enforceable in the court of public opinion' rubbish, whats all that about.

    If they change the law and take his pension from him like has been mentioned, hopefully Brown et all will also lose theirs as they have done nothing good for a long time either.

    Banned

    agree - its the governments fault and they are trying to look good by trying to take the pension away. I wouldnt give a penny up either if I were him!

    I think the problem isnt the amount, its the fact he gets it now, i.e. from 50, when he has not retired, making it a severence pay.

    If law can be changed to suit the government, makes little point of having law!

    Agree that goverment may be attempting to deflect medias attention at the moment. But doesnt make it right that someone as incompetent as Goodwin should recieve almost 2K a day for the rest of his life as a retired person at 50. Why do so many people think that is ok? Yes totally agree that there was incompetence amongst them that allowed this to go through, but the idea of Freddie being penniless is taking things a bit too far. He has probably already got more personal assets than most could dream of.
    There are so many regular people facing really tough times, either immediately or likely as a result of the economic situation, I for one would support anything that could be done to at least bring a sense of balance to the situation.

    Banned

    True, it may be obscene, but that's the world these big fat cats live in. I certainly wouldn't hand back a penny. It's not all been bad news in the past.

    news.bbc.co.uk/1/h…stm

    Maybe it should be asked how he intends to contribute to society in other ways. Just think what you could do with that sort of money.
    Once money is in his hands, its his. If law can be changed or if a competent person can spot a way to challenge previous decisions, I am all for it.

    Banned

    His annual pension will be taxable at the upper end, so 40% will be going back to the state, subject to the usual tax evasion schemes:?

    Original Poster Banned

    WoolyM;4528108

    Agree that goverment may be attempting to deflect medias attention at the … Agree that goverment may be attempting to deflect medias attention at the moment. But doesnt make it right that someone as incompetent as Goodwin should recieve almost 2K a day for the rest of his life as a retired person at 50.



    I don't think its ok, but then I don't think the deal should have been done in the first place. But the fact remains the deal was done, so therefore he should be allowed to keep it.

    Forgetting about the amounts involved, is it fair that someone takes a job, with a pension, then his employer at a later date decides he wasn't very good so they just won't give him his pension.

    Banned

    colinsunderland;4529915

    I don't think its ok, but then I don't think the deal should have been … I don't think its ok, but then I don't think the deal should have been done in the first place. But the fact remains the deal was done, so therefore he should be allowed to keep it.Forgetting about the amounts involved, is it fair that someone takes a job, with a pension, then his employer at a later date decides he wasn't very good so they just won't give him his pension.



    Completely agree

    Laws are challenged all the time. And repealed. Companies find get out clauses so that they dont have to pay out on numerous occasions. If they can do anything similar in this case I wont lose any sleep.
    If it was happening to the regular joe they wouldnt be able to afford the best representation as Freddie can. So I feel completely at ease with whatever challenge is made to claw back a bit for other uses in this case. There are many workers who pay into pension schemes that go bust. Top execs should ensure that these sorts of things dont happen, not just set out to line their own pockets and set themselves up for life. With the salaries that the top execs get, its not wholely unreasonable to expect a bit of character and morality.

    Original Poster Banned

    WoolyM;4530361

    Laws are challenged all the time. And repealed. Companies find get out … Laws are challenged all the time. And repealed. Companies find get out clauses so that they dont have to pay out on numerous occasions. If they can do anything similar in this case I wont lose any sleep. If it was happening to the regular joe they wouldnt be able to afford the best representation as Freddie can.



    And thats the problem with changing the law & backdating it just because the goverment doesn't like bad press.
    When the 'regular joe' finds out in the future he isn't going to get his pension because his employer decided after he left that he actually wasn't very good at his job, then joe won't have the resources to fight it.
    This isn't about challenging the law, this is about making a completely new law up. If the goverment had done their jobs properly this situation wouldn't have occured. If Goodwin's pension can be taken away or reduced under existing laws then I have no problem with it. Creating a whole new law for one person is very over the top if nothing else.

    I don't think theres many in the 'court of public opinion' that would agree G Brown has done a good job, but I can't remember seeing the headlines that he is leading by example and giving his pension up.
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