Wednesday 21 August 2019

NTMA paid €1.7m in bonuses, €75k golden handshakes

NTMA boss Conor O’Kelly
NTMA boss Conor O’Kelly

Gordon Deegan

Staff at the National Treasury Management Agency (NTMA) last year shared bonus payments of €1.778m.

At the same time, 33 staff took redundancy, and received an average pay-off of €75,757.

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The NTMA's annual report shows performance-related payments were up 15pc on the €1.54m in bonuses that was paid out in 2017.

The NTMA has the highest pay rates of any State agency, with 163 staff earning over €100,000 at the end of last year. It has been cutting staff numbers as Nama winds down ahead of its closure next year.

The annual report shows NTMA chief executive Conor O'Kelly was paid €571,000 -made up of €480,000 in salary, €86,000 in pension contributions and €5,000 in taxable benefits.

Seven staff at the NTMA in 2018 were earning between €300,000 and €400,000 and 15 took home salaries between €200,000 and €300,000.

According to the annual report, bonus pay across the NTMA, the National Asset Management Agency (NAMA) and the Strategic Corporation Bank of Ireland (SCBI) totalled €2.8m which included €955,000 in bonus payments to NAMA staff.

Pay to NTMA staff in 2018 totalled €42m. The cost of 'key management personnel' totalled €3.7m in 2018 and this included 'termination benefits' of €289,000.

Irish Independent

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