Under the Presidential Establishment (Amendment) Act, 1973, the personal salary of the President is set at the rate paid to the Chief Justice plus ten per cent. In accordance with the Act, the salary of the current President is €325,507 p.a. The President also receives an allowance for entertainment and other expenses related to the Office of €317,434 p.a. The remuneration and allowances of the current President are protected under the Constitution by virtue of Article 12.11.3 which provides that the emoluments and allowances of the President shall not be reduced while in Office.
In line with my stated intention to provide for reduced salary rates applicable to new appointees to the Judiciary, I am also making provision for a reduced salary payable to the new President of Ireland following the forthcoming election. The new salary will be €249,014 p.a. and the necessary legislative amendment will be provided for in the forthcoming Single Pension Bill. The allowance for entertainment and other expenses related to the Office of President stands at €317,434 p.a (£250,000 p.a.) since 1998 and there are no proposals to amend it.
I acknowledge that notwithstanding the Constitutional protection afforded to the emoluments and allowances of the President while in Office, the current President has voluntarily waived sums due in respect of her entitlements under the legislation.