At their recent meeting, they confirmed their agreement to the salary of the next Governor when he takes up his appointment on 1st July 2013 which will be £480,000 per annum and to his entitlement to a cash allowance in lieu of pension of 30% of salary. Although the next Governor’s salary of £480,000 is considerably higher than the salary of the current Governor (£305,000) the cost to the Bank of enrolling him in the now closed Pension Scheme previously available to the Governor and Deputy Governors would approximate to more than 100% of salary. This compares with the 30% cash allowance in lieu of pension to which the next Governor will become entitled.
Published on
19 December 2012
Press release