Lloyds chief waives £2.3 million bonus

Lloyds Banking Group chief executive Eric Daniels has waived his £2.3 million bonus for 2009, following the example of other banking bosses this week.

Daniels will still be paid just over £1 million in base salary, but will forego this year’s bonus despite the bank’s remuneration committee deciding he “merits the full payout”.
 

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