• Text size      
  • Send this article to a friend
  • Print this article

Pensioner gifts £1m to charity

A SEAFARING pensioner who lived in a £70,000 council house has stunned his friends by leaving a £1.2 million fortune to charity.

Iain Russell, 76, spent 40 years in the Merchant Navy, rising to become a chief engineer. He and his wife Irene lived in Shotts, North Lanarkshire, but also spent time in her home town of Manchester.

She died two years ago and Mr Russell's health deteriorated before he suffered a brain haemorrhage and died in October last year.

He has shocked long-standing friends and neighbours after it emerged he had secretly built up a £1,231,180.76 fortune held in bank accounts and stocks.

He left £62,000 to friends and family but ordered the rest of his money be shared by four charities, which stand to receive about £290,000 each before tax.

Diabetes Scotland, MacKenzie Fund for Heart Cardiology, the Guild of Benevolence of the Institute of Marine Engineering and the Royal National Institute for the Blind will all receive windfalls.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.