Tuesday, 26 February 2013

Questions (227)

Michael McGrath


227. Deputy Michael McGrath asked the Minister for Finance the number of retired executives of AIB including EBS who have been written to by the bank asking that they consider voluntarily forgoing a portion of their pension; the number who responded positively, negatively, or not at all; the number of the retired executives who have since actually foregone some of their pension entitlement and the overall value of the pensions entitlements that have been foregone by retired executives of the bank. [10296/13]

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Written answers (Question to Finance)

The Deputy will be aware that AIB has previously confirmed that it has written to former senior executives of both AIB and EBS Limited requesting a voluntary reduction in their pension levels.

The Bank has informed me that is not disclosing the names of these individuals on confidentiality grounds, but that it has to date issued in excess of thirty letters. AIB is not in a position to release information on former employees without the express consent of the individuals.

Given this is an on-going complicated process from a tax, legal and Revenue perspective the Bank is not in a position to confirm the levels of reductions achieved to date.