Correction

The February 2003 issue of Labour Research included an article on executive pensions (page 9-11), which unfortunately contained an error.

It stated that Richard Laubscher of Old Mutual, the international financial services group, was due to receive an annual pension of £874,000. This figure was entirely wrong. It was taken from the company's annual report which clearly stated that this was Mr Laubscher's accumulated total accrued pension fund, not his expected annual pension as reported by us. His name should not have been included in the table.

Labour Research apologises unreservedly for this unfortunate error.