Dáil Éireann Debate, Thursday - 18 July 2013
130. Deputy Michael McGrath asked the Minister for Finance the number of staff on a total remuneration package, including pension payments, allowances and benefits, of between €100,000 and €200,000; between €200,000 and €300,000; between €300,000 and €400,000; between €400,000 and €500,000, and the number with more than €500,000 at the National Asset Management Agency. [36350/13]
View answerNational Asset Management Agency (NAMA) staff are employees of the National Treasury Management Agency (NTMA) and are assigned to NAMA by the NTMA. Details of NTMA salaries by salary band are set out in the NTMA’s annual report. The Annual Report 2012 (expected to be published today 18 July) sets out salary band information in respect of staff assigned to NAMA as of 31 December 2012. These figures, adjusted to include taxable benefits where applicable and in the format requested by the Deputy, are as follows:
|
NTMA Salaries by Salary Band at End-2012 |
(Staff assigned to NAMA) |
|
Up to 100,000 |
132 |
|
€100,001 to €200,000 |
87 |
|
€200,001 to €300,000 |
2 |
|
€300,001 to €400,000 |
3 |
|
Total |
224 |
Notes:
1. The public service pension deduction is applied to NTMA employees.
2. In December 2011 the Minister for Finance requested NTMA employees whose salaries exceeded €200,000 to waive 15 per cent of salary or such amount of salary as exceeds €200,000 if application of the full 15 per cent reduction would bring their salary to below €200,000. Reductions in respect of employees waiving such amounts are reflected in the above table.
The figures above exclude pension contributions. NTMA employees are members of the NTMA defined benefit superannuation scheme or else have Personal Retirement Savings Accounts. The pension benefits of members of the NTMA superannuation scheme prior to 1 January 2010 are based on final salary. The pension benefits of members who joined the scheme on or after 1 January 2010 are based on career average earnings. Unlike most public pension schemes which are funded on a pay as you go basis, the NTMA superannuation scheme is a funded scheme. Pension entitlements are within the standard entitlements in the model public sector defined benefit superannuation scheme. Pension contributions are not paid to individual employees – they are paid into the scheme. The level of potential pension payments to members is dependent on length of service, based on final salary or career average earnings, with 1/80th of salary accruing for each year of service.
