UK - Two former Equitable Life board members - who are currently being sued by their ex-employer - left the troubled mutual with large payouts.
Equitable’s accounts for 2001 reveal that David Thomas and Christopher Headdon, who are on a list of 15 directors the mutual is suing over its financial difficulties, were paid £226,065 and £45,377 respectively.
Both left the company at the end of April last year.
The mutual - which is also suing auditor Ernst & Young - made an additional £150,000 payment last year to Thomas for delaying his retirement by four months until August 16.
Equitable is suing the 15 ex-directors for £3bn, claiming that their actions - introducing differential terminal bonuses - led to the firm’s collapse.
By Geoff Ho
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.
Over two years since the collapse of the high street giant, BHS pension scheme members will be able to put their anxieties to rest thanks to a bulk annuity deal. James Phillips explores the detail.