Tuesday, 5 March 2013

Questions (176)

Michael McGrath


176. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 227 of 26 February 2013 and in view of the fact that the parliamentary question did not seek the identity of any of the pensioners concerned but instead sought aggregate information on the number of persons Allied Irish Bank including EBS wrote to asking that they consider voluntary forgoing a portion of their pension, the number that responded positively, negatively or not at all; the number of the retired executives that have since actually foregone some of their pension entitlement; the overall value of the pensions entitlements that have been foregone by retired executives of the bank; and if he will now agree to provide this information in the aggregate form requested. [11504/13]

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Written answers (Question to Finance)

I have been informed that AIB previously indicated that it wrote to former senior executives of both AIB and EBS requesting a voluntary reduction in their pension levels. AIB is not disclosing the names of the individuals on confidentiality grounds but the Bank has to date issued in excess of 30 letters. Currently the bank is in discussions with a number of individuals and further disclosures could negatively affect the outcome of these discussions. Additionally the bank is not in a position to release information on former employees without the express consent of the individuals. This is an ongoing process from a tax, legal and revenue perspective and ultimately any reduction taken by an individual is purely on a voluntary basis.