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Pension Provisions

Dáil Éireann Debate, Thursday - 16 July 2015

Thursday, 16 July 2015

Questions (215, 216, 217, 218, 219, 220)

Michael McGrath

Question:

215. Deputy Michael McGrath asked the Minister for Finance the amount AIB paid out in pensions to former employees in 2013 and 2014; and if he will make a statement on the matter. [30288/15]

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Michael McGrath

Question:

216. Deputy Michael McGrath asked the Minister for Finance the number of former employees of AIB who receive an annual pension of €500,001 plus; €400,001 to €500,000; €300,001 to €400,000; €200,001 to €300,000; and €10,001 to €200,000; and if he will make a statement on the matter. [30289/15]

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Michael McGrath

Question:

217. Deputy Michael McGrath asked the Minister for Finance the amount Bank of Ireland paid out in pensions to former employees in 2013 and 2014; and if he will make a statement on the matter. [30290/15]

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Michael McGrath

Question:

218. Deputy Michael McGrath asked the Minister for Finance the number of former Bank of Ireland employees who receive an annual pension of €500,001 plus; €400,001 to €500,000; €300,001 to €400,000; €200,001 to €300,000; and €10,001 to €200,000; and if he will make a statement on the matter. [30291/15]

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Michael McGrath

Question:

219. Deputy Michael McGrath asked the Minister for Finance the amount the Permanent TSB paid out in pensions to former employees in 2013 and 2014; and if he will make a statement on the matter. [30292/15]

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Michael McGrath

Question:

220. Deputy Michael McGrath asked the Minister for Finance the number of former employees of the Permanent TSB who receive an annual pension of €500,001 plus; €400,001 to €500,000; €300,001 to €400,000; €200,001 to €300,000; and €10,001 to €200,000; and if he will make a statement on the matter. [30293/15]

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Written answers

I propose to take Questions Nos. 215 to 220, inclusive, together.

The Deputy should be aware that information relating to individual pensions is controlled by the trustees of the specific pension fund concerned and that these pension funds are separate legal entities to the banks. My Department does not therefore have access to the information requested.  

However, the Deputy might be interested to know that the banks in which the State has investments in do provide detailed information on Retirement benefits in their Financial Statements.

In the case of AIB the information is available in Note 11 Retirement benefits on pages 241-246 of the 2014 Annual Financial Report. See the following link to the report:

https://investorrelations.aib.ie/content/dam/aib/investorrelations/docs/resultscentre/annualreport/aibafr2014v1.pdf.  

For Bank of Ireland all disclosed pension information is available in Note 41, Retirement benefit obligations on pages 233-242 of the bank's annual report 2014. See the following link to the report: https://www.bankofireland.com/fs/doc/wysiwyg/boi-annual-report-2014.pdf.

PTSB makes its pension disclosures in Note 27 - Retirement Benefit Obligations on pages 112 & 113 of its 2014 annual report. See the following link to the report:

http://www.permanenttsbgroup.ie/~/media/Files/I/Irish-Life-And-Permanent/Attachments/pdf/2015/annual-report-110315.pdf.

It should be noted that both 2014 and 2013 financial information is available in the reports outlined above.

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