The idea sounds a bit preposterous but when you cut through the headline in the London Times, you’ll find that former Citigroup Chairman Sanford Weill has decided that his post-career career will be philanthropy. The paper tartly notes that he will receive an annual pension of $1 million.

Weill tells the latest issue of Citigroup Pursuits, a magazine for private banking clients, that he plans to divest himself of the $1.4 billion fortune he amassed as a banking executive. “Hopefully we’ll be as smart in how we give our money away as we turned out to be smart in making it,” he tells the magazine.

Weill himself explains that he had made such a “deal” with God and hopes he is given the time to carry it out. Of course, we could debate endlessly about the theology of supping with the Devil (and other assorted bankers) in order to do good works in retirement but probably better that we cheer Weill’s charitable spirit.