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Bank of England unveils plans to reduce senior banker bonus deferrals

The regulator is proposing to reduce deferrals from eight to five years

By Paul Clarke
Sam Woods, deputy governor for prudential regulation at the Bank of England, said the changes would not mean a return to ‘very dangerous pay structures that were commonly in place before 2008’
Sam Woods, deputy governor for prudential regulation at the Bank of England, said the changes would not mean a return to ‘very dangerous pay structures that were commonly in place before 2008’ Photo: Hollie Adams/Bloomberg via Getty Images

The Bank of England has laid out plans to shorten deferral periods for senior banker bonuses in the latest changes to variable compensation in the UK.

The Prudential Regulatory Authority has proposed a reduction in restrictions on bonuses for a select group of senior bankers known as material risk takers.

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