Santander UK chief`s pension slashed by £436,000 over two years
(The Guardian Business News)

Lender is latest bank to yield to pressure from investors over excessive retirement benefitsSantander´s UK boss will have his pension allowance cut by £436,000 over the next two years, as the lender becomes the latest bank to bow to pressure from investors over bumper retirement benefits.Chief executive Nathan Bostock´s pay in lieu of pension is worth 35% of his £1.7m base salary, far above the 9% offered to the rest of staff. But the Spanish lender will cut Bostock´s lump sum to about 22% of salary next year before bringing it in line with the staff allowance in 2021. Continue reading...