Former RBS boss 'will not give up pension'

Former Royal Bank of Scotland boss Fred Goodwin has written to the Treasury indicating he will not voluntarily give up his pension, it was revealed tonight.

Goodwin is coming under increasing pressure to give up at least part of the pension, worth an estimated £693,000 (€778,040) a year, which he is already receiving at the age of 50 under an early retirement deal agreed with the RBS board when he was forced out last October.