Top bankers defend pay packages to select committee

Staff reward packages including bonuses at bailed-out banks are justified, three top banking bosses told a Treasury select committee today.The leaders of RBS, Northern Rock and Lloyds Banking Group took turns to defend their remuneration policies in the face of widespread public dismay at how taxpayers’ money had been used.
 

It’s untenable to have a normal retirement age in public-sector schemes that is significantly different from the state retirement age

Brian Bailey, Director of pensions, West Midlands Pension Fund and member of High Pay Commission