pension

you work hard. you do your best. at some point you hope your pension is going to let you kick back and relax (mine means i can afford tescos economy water). thanks to the financial crisis the value of our pensions are not as much as they used to be.
still it is nice to know in these hard times that not all of us are suffering when it comes to pensions. according to the bbc fred goodwin, ex royal bank of scotland chief executive and the man credited for the woeful state of the bank (an £8 billion loss in 2008), has started cashing in his pension.
not that fred goodwin is losing sleep as he sits back and counts his £650,000 a year pension. that is £650,000 a year for the rest of his life. nice work if you can get it.
the bbc’s robert peston is at pains to point out that mr. goodwin did not take any compensation when he left the royal bank of scotland. oh that if ok then. quite why when you have screwed a company into the ground you should get compensation is beyond me, but then that is probably why i am not a business bigwig.
as one of my more financial astute friends has pointed out that it is more than likely such pension schemes were signed up to as part of the contract mr. goodwin signed up for.
somehow when the boys at the adam smith institute and the champions of capitalism go on about how the market rewards success this is probably not what they meant.
now as am i in a period of post employment i think i should start throwing my hat in the ring for being a chief executive for any of the big companies. i reckon i can do as much damage to a company as people such as mr. goodwin, but i would do it quicker and i would be cheaper.
so confederation of british industry and institute of directors i am manning up, stepping up to the plate and ready for action. you want to fuck up you company? hire me i am your man.