In response to the Deputy’s question each Department is responsible for monitoring the bodies which come under their remit. Details in respect of bodies which come under the remit of my Department are contained in the following table:
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Name of Board
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No Of Board Members and Total Remuneration paid to members.
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Was the body set up or abolished since march 2011
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Projected cost to the taxpayer of the establishment and operation of these new bodies
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National Treasury Management Agency (NTMA) Advisory
Committee
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5 to 7 Members
In 2012 a total of €135,000 was paid to board members.
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Not applicable
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Not applicable
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State Claims Policy Committee
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7 Members
In 2012 a total of €42,915 was paid to board members.
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Not applicable
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Not applicable
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National Pensions Reserve Fund (NPRF) Commission
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7 Members
In 2012 a total of €222,839 was paid to board members.
The National Pensions Reserve Fund Commission remuneration is met from the National Pensions Reserve Fund.
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Not applicable
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Not applicable
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National Development Finance Agency (NDFA) Board
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8 Members
In 2012 a total of €222,839 was paid to board members.
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Not applicable
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Not applicable
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National Asset Management Agency Board
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9 Board Members
In 2012 a total of €475,000 was paid to board members.
The National Asset Management Agency costs, including remuneration paid to the NAMA board, are met from its operating income.
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Not applicable
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Not applicable
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Credit Union Restructuring Board (ReBo)
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13 (including Chairperson)
€11,970 p.a for Chairperson
€7,695 p.a for other board members, with the exception of the Dept. Of Finance and Central Bank representatives who don’t receive a fee.
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ReBo was set up on a statutory basis on 1 January 2013 in accordance with Part 3 of the Credit Union and Co-operation with Overseas Regulators Act 2012. The establishment of ReBo was a core recommendation of the Report of the Commission on Credit Unions which was unanimously agreed by all credit union stakeholders.
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The projected cost of ReBo for 2013 is €750,000, 50% of which is recoupable via a levy on the Credit Unions. The projected costs for 2014 and beyond have not yet been finalised.
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Credit Union Advisory Committee
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7 (1 Chairman and 6 ordinary members).
Annual allowance of €3,705 for Chairman and €2,470 for ordinary member.
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There is currently no Committee in place
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This will depend on when a new Committee will be established. It is estimated that annual costs will be in line with previous years.
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Irish Fiscal Advisory Council
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5 Council Members
With effect from 1 July 2012, the fees payable to Council Members are based on those payable to Directors of Category 2 Non-Commercial State-Sponsored Bodies, which are set from time to time by the Dept. of Public Expenditure and Reform. The relevant fees are €20,520 for the Chair and €11,970 for Members. The fees are not payable to members of the Irish public service.
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Set up in July 2011
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Up to a maximum ceiling of €800,000 per annum and increased annually in line with the Harmonised Index of Consumer Prices.
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