FORMER Royal Bank of Scotland boss Sir Fred Goodwin is to hand back some of his controversial �703,000-a-year pension, it emerged today.

FORMER Royal Bank of Scotland boss Sir Fred Goodwin is to hand back some of his controversial �703,000-a-year pension, it emerged today.

Sir Fred is understood to be preparing to hand back up to �200,000 a year, which would cut the value of his pension pot by around �4 million.

The ex-RBS chief executive caused public outcry when he refused to make any change to his pension, despite playing a part in the near-collapse of the banking giant.