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
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.