Saturday 16 February 2019

The different figures: Paul Kiely versus John Cregan at the Dail PAC

Former CRC chief executive Paul Kiely
Former CRC chief executive Paul Kiely

What Paul Kiely, former chief executive of the CRC, told the Dail Public Accounts Committee last month

Deputy Gerald Nash: "Mr Kiely has outlined his pension arrangements to a degree. Was he given a lump sum payment when he stepped down from the organisation?"

Mr Paul Kiely: "Yes I was."

Deputy Gerald Nash: "Can he clarify for the record what that lump sum was, and how it was calculated?"

Mr Paul Kiely: "It was calculated at the maximum amount allowable by the Revenue Commissioners."

Deputy Gerald Nash: "Did that involve cognisance being taken of the HSE portion of the salary and the topped-up portion?"

Mr Paul Kiely: "Yes."

Deputy Gerald Nash: "Okay. What was the sum again?"

Mr Paul Kiely: "It was €200,000."


And later ...

Deputy John Deasy: "I want to clear something up with regard to the lump sum of €200,000. Where did it come from, and how was it funded?"

Mr Jim Nugent: "I am just making sure I am talking about the right account. There are so many different accounts. The lump sum would have been paid from the Friends and Supporters of the CRC support fund -- the reserve fund."

Deputy John Deasy: "Were you aware, Mr Kiely, that the €200,000 lump sum you received had come from that fund?"

Mr Paul Kiely: "I do not want to say it is complicated, but it is. It is complicated, and the whole thing does not play out for another three years. My entitlement is to the maximum amount of the..."

Deputy John Deasy: "I understand that. That is fair enough. Did you have any qualms about the lump sum coming from that fund?"

Mr Paul Kiely: "Have I qualms? I have qualms about everything to do with this -- absolutely everything to do with it. I am looking at the situation where there is entitlement, if that entitlement is bestowed by the Revenue Commissioners in a personal fund threshold."




"Mr Kiely received in his final salary payment from the CRC in June 2013, the following amounts in addition to his basic salary:

€200,000 Tax Free

€273,336 Taxable

€473,336 Total

"In addition, an amount of €268,689 was paid to Mercers to ensure that Mr Kiely's pension/lump sum benefits would not be less than if Mr Kiely had continued to remain on as chief executive until November 2016.

At about the time of this final payment, an amount of €700,000 (in two instalments of €450,000 and €250,000) was paid by the Friends and Supporters of the CRC that was described in the draft internal accounts as a donation.

"The minutes of the Friends and Supporters does not record an approval for this 'donation' (which represents almost half its annual income) by the board of directors. The payments to Mr Kiely could not have been made by the CRC if the €700,000 had not been received from the Friends and Supporters."

Irish Independent

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