Martin Winterkorn, the former boss of Volkswagen, amassed a pension worth more than €28m (£20.5m) before his dramatic resignation and may be entitled to a multi-million euro severance package. Volkswagen’s most recent annual report for 2014 suggests Mr Winterkorn, whose total pay packet was worth €16.5m last year, could be in line for a significant windfall. The report states that if a board member's contract is terminated early "through no fault of the board of management member", the employee is eligible for a generous severance payment, possibly equal to two years' salary. However, should the board terminate the contract "for a reason for which the board member is responsible", severance is forfeited, according to company filings. There is nothing in the report to suggest Mr Winterkorn's pension can be curtailed or withheld should he be found responsible for his early departure. Instead, Mr Winterkorn will receive his full pension, as well as a surviving dependents' pension and use of the company cars during the years his pension is paid out. Although Mr Winterkorn accepted responsibility for the "irregularities that have been found in diesel engines" he said in his resignation letter that he had no knowledge of the emissions deception, which was backed up by the board.