We read Northern Rock's former boss Adam Applegarth received a £750,000 pay-off when he left last December. Applegarth, who is 46, is also entitled to draw on a pension pot of £2.5m at the age of 55 . Experts say that could bring him retirement benefits of up to £200,000 a year.
As we all have read Northern Rock collapsed and bad management was a factor in this bank's demise . So is this a capitalism's reward for failure ?
Many of us facing attacks on our final salary pension schemes will also be wondering why we have to work longer for less while the rich can dip into a retirement pot of gold .
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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