Wednesday 16 April 2014

Six employees of the former Anglo Irish Bank earn more than €500,000 annually

SIX employees of Irish Bank Resolution Corporation have a total renumeration package of more €500,000 a year, it has emerged.

The package for the workers at the former Anglo Irish Bank includes salary, pension payments, allowances and benefits.

A spokesman for the Department of Finance told RTE News that the six employees were appointed before the Government came into power.

The spokesman added that the previous guidelines meant additional benefits such as pension payments were in addition to the €500,000 salary cap.

New guidelines introduced by the the current Government mean the entire package must not exceed €500,000.

The information was obtained in a parliamentary reply to Fianna Fáil's Michael McGrath who said that the employees involved should be written to and a voluntary reduction sought.

Meanwhile a spokesman for IBRC has said the "The total compensation packages, which include base pay, pension entitlements and all other allowances, were agreed following an open and competitive process.

"The process was to attract five of those senior executives concerned to join the bank post nationalisation and for one existing executive to fill the role as head of the Bank's UK operation".

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