Newly departed Lee still in line for €15,445 lump sum
Published 09/02/2010 | 05:00
GEORGE Lee will get paid a compensation package of just €15,445 after resigning as a TD.
The rules state a member of the Oireachtas must have at least six months' consecutive service to be entitled to a termination lump sum.
The value of such a sum equates to about two months' salary.
Mr Lee's annual salary is €92,672, so he will get paid just €15,445. While he is getting a once-off lump sum, he will not be entitled to any termination payments.
These are more substantial and designed to compensate for the phasing out of the salary of a long-serving deputy. A TD needs at least three years' continuous service to qualify for termination payments.
His pension entitlements will be small and will only cover whatever contributions he made under the public sector pension levy.
Meantime, Mr Lee will return to RTE on his full salary, €150,000 a year.