Former bank executives receive massive golden parachute

Jul 22, 2013

Criticism of illegal loans and shady stock policies being carried out at Danske Andelskassers Bank have apparently not stopped the bank from paying huge pensions to two of its former directors over the past ten years. Accounts show that former director Vagn Raun is being paid 180,000 kroner each month while Bent Jakobsen must get by on just 110,000 kroner monthly. The amounts add up to two-thirds of the men’s final salaries, and adjust according to wage changes that occur in the banking sector, thus avoiding the pensions being eroded by inflation. – Jyllands-Posten

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