The Central Bank Commission is responsible for setting the remuneration, terms and conditions of staff of the Central Bank of Ireland.
The Central Bank is subject to and compliant with the provisions of the FEMPI Acts 2009-2015 and the pay adjustments arising from this legislation were applied to all staff.
The more recent Public Service Pay and Pensions Act (PSPP) 2017 provides for restoration of salary scales through four cumulative pay increases.
As a result of the pay restoration associated with the Public Service Pay and Pensions Act, the salaries of staff at all grades have been gradually restored since 2017, including the salaries of senior management. I have been advised that as a result of this a higher number of staff will have higher salaries than was the case prior to the pay restoration taking effect. I have also been advised however, that other than the payment of standard annual increments and increases provided for under FEMPI 2015 and the Public Service Pay and Pensions act, no other increases to salaries have been applied within the Bank.
Salary information for staff up to and including director level is available on the Central Bank's website (link below)
Table 1 provides a breakdown of Central Bank staff at 31 December 2019 and 31 December 2020 respectively, and reflecting Annual basic pay against the relevant salary range.
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Table 1
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# of staff at 31 Dec 2019
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# of staff at 31 Dec 2020
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>€400,000
|
N/A
|
N/A
|
|
€300,000 <€400,000
|
N/A
|
N/A
|
|
€200,000 <€300,000
|
5
|
5
|
|
€150,000 <€200,000
|
25
|
42
|
|
€100,000 <€150,000
|
247
|
245
|
The Salary of the Governor of the Central Bank of Ireland is set by the Central Bank Commission and is reviewed on an annual basis. The Governor’s Annual Salary is €292,526 effective 1st October 2020. Since 2013 the annual review of the Governor's salary has applied the terms of the public service pay agreements applicable to all public servants. No increases other than those provided for within those public service pay agreements have been applied to the salary of the Governor. Bank employees are automatically enrolled in the Central Bank of Ireland Pension Scheme (which mirrors the Civil Service Superannuation Scheme).
https://www.centralbank.ie/docs/default-source/careers/policies/staff-categories-salary-scales-and-salary-bands.pdf?sfvrsn=28
