BP CEO Tony Hayward will begin to collect a $930,000 (?600,000) pension immediately upon stepping down in October. BBC reports : BP pension scheme rules say that those who joined before April 2006 can take the pension at any point from age 50. Mr Hayward is 53. He will also receive a year’s salary plus benefits worth more than ?1m. Mr Hayward’s pension pot is valued at about ?11m and he will keep his rights to shares under a long-term performance scheme which could – depending on BP’s stock market recovery – eventually be worth several million pounds. Our business editor …

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Hayward in Line for $930k Pension — By: Daniel Foster