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Wednesday 27 August 2014

Key details that made McNeice best-paid union official in land

Published 14/01/2013 | 05:00

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• Mr McNeice's basic salary in 2003 was €250,000.

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• Package included 30pc performance bonus, 33pc bonus for exceptional performance and a defined benefit pension.

• Terms allowed him to retire anytime between age 52 and 55 with three years' salary.

• Part of the bonuses later became part of core salary.

• In 2008, his basic salary had risen to €493,000.

• His salary was frozen in 2008, with the proviso bonuses could be paid retrospectively.

• If he had not retired last year, his salary in 2013 would have been €550,000-€560,000.

• His 2012 retirement package is worth almost €10m.

• The package includes a €1.5m lump sum, a pension fund of €4.5m and payments to be made each year for 16 years worth €3.6m.

Irish Independent

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