Cheers for that

Clears up a number of questions but the bit on what would happen if RBS had gone bust was less clear.

Elsewhere it says it was a private scheme and RBS had to transfer the ?8m in cash to the scheme (wouldn't've been the case if it was RBS' own scheme).

Was a pretty cushy deal though. I was pleased with my pension but I 'only' accrue 1.66% of my salary per year in a final salary deal and I'm not allowed to retire until I'm 60 and I have to contribute around 7% myself (although I think my employer puts in a fair bit more).

Posted By: Kangol Canary on February 27th 2009 at 00:01:10

Message Thread

Fred Goodwin (General Chat) - Kangol Canary, Feb 26, 23:00:31
- Not having looked at the detail, I'm fairly sure he'll have been in a final salary scheme, (General Chat) - tudders, Feb 26, 23:05:47
  - Given the whole pot is ?16m unlikely that RBS contributed ?90m (General Chat) - Kangol Canary, Feb 26, 23:20:23
    - It seems his wasnt, though... (General Chat) - Yellalee, Feb 26, 23:50:54
      - Cheers for that (General Chat) - Kangol Canary, Feb 27, 00:01:10
    - Well, unless your name is Jade Goody, you aint going to get ?650k pa (General Chat) - tudders, Feb 26, 23:44:33
      - Closer to ?25m I would have thought, given he is 50. (n/m) (General Chat) - Yellalee, Feb 26, 23:53:56
    - Since when were they mutually exclusive? (General Chat) - Bryan Salad Surgery, Feb 26, 23:28:17
      - True but it was a private scheme (General Chat) - Kangol Canary, Feb 26, 23:34:33
        
        All this has faded from my memory (General Chat) - Bryan Salad Surgery, Feb 26, 23:43:56
      - Indeed - they have now started such a thing at our place now (General Chat) - Yellalee, Feb 26, 23:33:06

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