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Banking Sector Remuneration

Dáil Éireann Debate, Tuesday - 17 June 2014

Tuesday, 17 June 2014

Questions (170, 171)

Pearse Doherty

Question:

170. Deputy Pearse Doherty asked the Minister for Finance if he will provide, in tabular form, for each of Bank of Ireland, Allied Irish Banks, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency, the number of retired employees being paid a pension of between €100,000 to €200,000; €200,001 to €300,000; €300,001 to €400,000; €400,001 to €500,000; and in excess of €500,000, based on the latest figures from the banks as opposed to the Mercer report. [25782/14]

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Pearse Doherty

Question:

171. Deputy Pearse Doherty asked the Minister for Finance if he will provide in tabular form for each of Bank of Ireland, Allied Irish Banks, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency the number of retired employees on a total remuneration package between €100,000 to €200,000; €200,001 to €300,000; €300,001 to €400,000; €400,001 to €500,000; and in excess of €500,000, based on the latest figures from the banks as opposed to the Mercer report. [25783/14]

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Written answers

I propose to take Questions Nos. 170 and 171 together.

I have received the following information regarding retired employees.

AIB

The number of retired employees being paid a pension as at 31st May 2014 from the AIB Group pension schemes was 5,165.  With regard to the actual pensions in payment data, this is the property of the Pension Trustees and is covered by Data Protection legislation.  The defined benefit pension funds are separate legal entities from AIB under the control of the Trustees who act independently of the Bank on behalf of the schemes' members.  Both the Trustees and the Bank have taken legal advice in relation to the release of the information requested in tabular form.  On the basis of this legal advice, the Trustees have agreed to provide to AIB, for onward disclosure, aggregate data only to ensure that there is no disclosure of personal data.

In total there are 97 pensions in payment in excess of €100,000 across the AIB Group pension schemes.  This amounts to 1.88% of the pensioner population at the end of May 2014. There is no additional AIB annual remuneration for retirees outside of their pension payment.

Bank of Ireland

The publicly available information in relation to pensions is contained within the Bank of Ireland annual report for the year ended 31 December 2013.

http://www.bankofireland.com/fs/doc/wysiwyg/bank-of-ireland-annual-report-for-the-year-ended-31-december-2013.pdf.

Permanent TSB

permanent TSB is in a unique position in that its pension schemes have been wound up and the trustees of the various schemes are currently arranging for the assets of the schemes to be allocated among the pensioners, deferred employees and current employees. This process is still ongoing and details of benefits provided are not available.

NTMA/NAMA

As set out in the reply to the Deputy on 15 April 2014, two former employees of the NTMA are in receipt of a pension of between €100,000 and €200,000 and one is in receipt of a pension of between €200,000 and €300,000.

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