Dáil Éireann Debate, Tuesday - 9 October 2012
143. Deputy Pearse Doherty asked the Minister for Finance if he will quantify as of 31 December 2011 and as at 30 September 2012 the number of employees at the Central Bank of Ireland whose annual salary including non-discretionary payments in cash, is in excess of €200,000 per annum. [42677/12]
View answer144. Deputy Pearse Doherty asked the Minister for Finance if a request has been made by him to the Central Bank of Ireland that any staff member earning in excess of €200,000 per annum inclusive of non-discretionary cash payments waive 15% of their salary or a sum to reduce their salary inclusive of non-discretionary cash payments to €200,000 whichever reduction is lesser; if such a request was made, the date of the request; the number of employees whose annual salary including non-discretionary payments in cash was in excess of €200,000 per annum at that date; the number of employees who acceded to the waiver request; and the number of employees who rejected the waiver request. [42678/12]
View answerI propose to take Questions Nos. 143 and 144 together.
I have been informed by the Central Bank that as at both 31st December 2011 and 30th September 2012, the Central Bank of Ireland had five employees whose annual salary, including non-discretionary payments in cash, was in excess of €200,000 per annum.
Under the Central Bank Act 1942 and the Statute of the European System of Central Banks (ESCB), the Government has no role in the setting of terms and conditions of employment in the Central Bank. The Act and the Statute guarantee the independence of the Governor in carrying out his ESCB related functions and control over pay and conditions is seen as a necessary part of that independence.
Salary reductions and pension-related reductions were applied in the Central Bank under the provisions of the Financial Measures in the Public Interest Acts as was the case in the wider public service. Furthermore, my Department wrote to the Governor of the Central Bank in 2011 outlining the Government’s approach to pay levels to senior public servants, in particular those whose remuneration exceeds €200,000 per annum. It was suggested that the Central Bank would provide for disclosure where employees are in receipt of remuneration exceeding the €200,000 per annum threshold. The Governor responded positively saying that the Central Bank have greatly increased the amount of information regarding senior staff remuneration in recent years and sees advantage in continuing this trend and making disclosures in respect of all employees where total remuneration exceeds €200,000 per annum.
In that respect the Central Bank publishes information related to remuneration of executive and non-executive directors in its annual report. In 2011 the Governor of the Central Bank waived €41,740 of his total remuneration for that year and has indicated that he will waive €63,324 of his total remuneration in 2012.
