Business

Wednesday 20 August 2014

Bankers not worrying just yet

Published 21/11/2012 | 05:00

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Bash a banker season has gotten back into full swing with Fianna Fail and Sinn Fein both happy to take a swing.

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The "hot" issue remains the "exorbitant" pensions of more than €100,000 a year paid to some retired executives at bailed-out lenders.

Proposals from both parties put forward yesterday will certainly give some retired bankers the collywobbles – Sinn Fein wants to knock 99pc off any pension over €100,000. Fianna Fail will settle for 20pc, and rising.

Michael Noonan seems minded to agree, calling large executive pensions in the banks "a major concern".

That must be a worry for those, like the Punt, who hope to eek out our retirement pottering between Marbella and the back nine in Straffan.

Perhaps not. After all, if Sinn Fein, Fianna Fail and the Government are all so concerned about huge pensions, it seems, ahem, wasteful to each have a competing plan to tackle the issue.

When it comes to cosy retirement prospects, there's just something about the atmosphere prevailing in Leinster House these days that somehow manages to scupper the best-laid plans to rein in those big numbers.

Irish Independent

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