Banking Sector Remuneration

Dáil Éireann Debate, Tuesday - 20 November 2012

Tuesday, 20 November 2012

Questions (181)

Pearse Doherty

Question:

181. Deputy Pearse Doherty asked the Minister for Finance the number of letters that were issued by AIB to former employees of the bank requesting that they take a voluntary reduction in their pensions; the number of responses received by AIB to these letters; the number of responses that indicated the person would take a reduction and the percentage of reductions involved; the number of responses that have refused to accept a redundancy; and if he will make a statement on the matter. [51024/12]

Written answers

Minister for Finance

AIB has informed me that it is in an on-going process of writing to former senior executives of both AIB and EBS requesting a voluntary reduction in their pension levels. The individuals served in senior management, lending or control positions across the institutions during the period 2005-2008. AIB is not disclosing the names of the individuals on confidentiality grounds but the Bank has to date issued in excess of 20 letters. The bank is not in a position to release information on former employees without the express consent of the individuals. The bank has, to date, received a number of responses from the individuals concerned. Given this is an ongoing process from a tax, legal and Revenue perspective the Bank is not in a position to confirm the levels of reductions involved to date.