First of all massive thanks to the eagle eyed Mr Mustard who tipped me off to this story.
Last year, having reviewed Barnet Council’s annual audit, I noticed that a few members of staff had been paid, in total, over £1 million in compensation for loss of office (when staff leave their job). At the time I remarked about the very significant sum paid to the former Executive Director for Environment and Development who received £280,485 upon leaving the Council.
So it was with interest that I reviewed the London Development Agency Statement of Accounts for the year ending 31 March 2010 to see that a certain Mr A Travers had received just £8,575 compensation for loss of office when he departed from the LDA. A modest sum by all accounts but then again he did receive £162,595 in salary. However, when you scan across the line a rather large figure jumps out. Pension contributions £437,797 of which, £417,473 was paid as early retirement costs.
It also notes that Mr Travers was seconded to London Borough of Barnet from January to March 2010 at a cost to the Borough of £44,957 including salary and on costs. So Mr Travers was employed by the LDA; he was then seconded to Barnet Council for three months from January to March 2010 and then very neatly he started his consultancy contract through Halliford Associates at £1,000 a day with Barnet Council on 12 April 2010. Very convenient timing for someone who had just received such a large pension fund top up for “early retirement costs”.
At a time when everyone is suffering hardship it seems that some are suffering less than others.
Oh and by the way, I thought I would have a look at the Board of the LDA at the time to see who was a member these events took place. What a surprise when I saw that a certain Cllr Michael Freer from London Borough of Barnet was one of the board of the LDA at the time.
Perhaps I should leave it there and let people form their own views.