What Will Customers Get in AA and Saga Merger? ; PERSONAL FINANCE

A million people are retiring each year - which partly explains the recent surprise merger of Saga and the AA. It creates a pounds 6.2 billion giant: both are big providers of financial services and 40 per cent of the AA's 15 million members are aged 50-plus. As the new firm starts with debts of nearly pounds 5 billion, many employees await healthy payouts - Saga staff who invested pounds 20 in October 2004 collect pounds 10,500; AA boss Tim Parker waltzes off with pounds 40 million after three years' highly controversial work, and Saga boss Andrew Goodsell hits the jackpot with pounds 128 million.....

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