Monday 26 February 2018

Michael Brennan: Top bankers still rewarding themselves for huge failures

Michael Brennan

Michael Brennan

THERE is no need to worry. The pension payment is safe. And no matter what happens, a way will be found to ensure that you are well looked after in your old age.

That might be the message the country's pensioners expected to get this week, but such reassurances have been conspicuous by their absence.

Instead, it is the country's senior bankers who will be able to sleep soundly at night -- at least when it comes to their pensions. Despite the efforts of Finance Minister Brian Lenihan, AIB and Bank of Ireland have managed to keep paying cash allowances to their senior executives instead of direct pension contributions -- which would attract punitive taxes.

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