Saturday 22 September 2018

Shane Phelan: Nest egg will stick in the craw of those affected by the crash

Irish law provides that a pension does not vest in the official assignee or a bankruptcy trustee if it is not accessible for a period of at least five years after the adjudication of bankruptcy. Stock Image
Irish law provides that a pension does not vest in the official assignee or a bankruptcy trustee if it is not accessible for a period of at least five years after the adjudication of bankruptcy. Stock Image
Shane Phelan

Shane Phelan

It is no secret some former senior bankers enjoy large pensions.

Equally, the size of the €4.4m pension pot amassed by David Drumm prior to his exit from the former Anglo Irish Bank is not terribly surprising.

It will, however, undoubtedly stick in the craw of anyone affected by the financial crisis.

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