Pension Provisions

Dáil Éireann Debate, Thursday - 20 June 2013

Thursday, 20 June 2013

Questions (80)

Michael McGrath

Question:

80. Deputy Michael McGrath asked the Minister for Finance if he will provide aggregate information on the number of persons that AIB, including EBS, wrote to requesting that they consider voluntarily foregoing 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 and the overall value of the pensions entitlements that have been foregone by retired executives of the bank; and if he will make a statement on the matter. [29996/13]

Written answers

Minister for Finance (Deputy Michael Noonan)

As the Deputy will be aware AIB has previously indicated that it has written 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. I have been informed by AIB that 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.