Pension funds call for pay clawback at Barclays | Pensions and Lifetime Savings Association

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Pension funds call for pay clawback at Barclays

03 July 2012

Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), commented on Barclays:

“Shareholders, including pension funds, have been negatively affected by their investments in Barclays. Shareholders want any severance payments to be kept to a contractual minimum, and clawback mechanisms for past pay and bonuses should be fully explored. There must be no reward for failure. Barclays now need to regroup and focus on serving their customers and clients, and delivering value for shareholders.”

 

Notes to editors:

1.The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector. Contacts:

Paul Platt, Head of Media, NAPF, 020 7601 1717 or 07917 506 683, [email protected]

Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]