independent

Thursday 17 April 2014

14 NTMA staff paid over €200k despite cuts

The National Treasury Management Agency auctioned off government bonds

FINANCE Minister Michael Noonan has confirmed that 14 members of staff at the National Treasury Management Agency (NTMA) were in receipt of salaries exceeding €200,000 last year – even after the public sector pay cuts imposed last July.

Mr Noonan confirmed that at the end of December last there was one employee of the NTMA earning more than €400,000 with three others earning between €300,000 and €400,000.

The three earning between €300,000 and €400,000 include two from the National Asset Management Agency (NAMA) that falls under the NTMA, according to the figures provided to Sinn Fein's Pearse Doherty in a written Dail response.

At the end of December last, the NTMA employed 325 with NAMA employing 332.

Ten employees of the NTMA and NAMA were earning between €200,000 and €300,000 – split between eight at the NTMA in that earning bracket and two at NAMA.

Mr Noonan further confirmed that there were an additional 162 employees – with 105 from NAMA and 57 from the NTMA – in receipt of salaries between €100,000 and €200,000.

Mr Noonan confirmed that the pay to staff disclosed includes taxable benefits and excludes pension contributions.

Last July, as part of fresh public pay cuts, staff at the NTMA lost their exemption from public pay cuts and those earning over €200,000 at the NTMA received cuts of 10pc in salary. The NTMA employees earning between €100,000 and €200,000 incurred pay reductions of between 8pc and 10pc.

The two top earners at the NTMA and NAMA prior to the pay cuts last year were NTMA chief executive John Corrigan, enjoying annual remuneration of €416,500 along with taxable benefits of €29,500, with NAMA chief executive Brendan McDonagh enjoying remuneration of €365,500.

Irish Independent

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