Bank of England boosts Mervyn King's pension by £1.4m
The Bank could offer no explanation as to why the Court of the Bank decided to bring the Governor to full pension accrual before starting a second term, though it may have been for administrative purposes. Once he leaves the Bank, when his current term expires in 2013, he will be eligible to draw an annual pension equivalent to £198,200 today (AtW's comment: if BoE keeps printing money like it does not then this pension will be enough to buy a loaf of bread and some water).
Source: Bank of England boosts Mervyn King's pension by £1.4m - Telegraph
The Bank could offer no explanation as to why the Court of the Bank decided to bring the Governor to full pension accrual before starting a second term, though it may have been for administrative purposes. Once he leaves the Bank, when his current term expires in 2013, he will be eligible to draw an annual pension equivalent to £198,200 today (AtW's comment: if BoE keeps printing money like it does not then this pension will be enough to buy a loaf of bread and some water).
Source: Bank of England boosts Mervyn King's pension by £1.4m - Telegraph
