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Anglo probe chief Appleby to get €300k pension

THE man charged with investigating dealings at Anglo Irish Bank was allowed to be an officer in the civil service for just 24 hours in a deal to secure a €300,000 pension package.

Director of Corporate Enforcement Paul Appleby (58) announced in January that he was leaving his job before the completion of one of the biggest investigations in the history of the State -- Anglo Irish Bank.

He was one of almost 8,000 civil servants who availed of a Government offer allowing them retire with pensions based on their wages before they were cut during the recession.

Details emerged today of the deal which allowed him to avail of early retirement with a €225,000 lump sum and an annual pension of €73,000.

Correspondence obtained under the Freedom of Information Act shows he dropped back to being a principal officer in the civil service for 24 hours before being re-appointed director.

He was allowed to use his director's salary of €150,712 rather than a principal officer's €96,672 to arrange his pension.

The arrangement was outlined by Mr Appleby when he wrote to the personnel officer at the Department of Enterprise.

"I will retain my director's salary on a personal basis for Feb 29 and will retire with superannuation benefits based on my director's salary of €150,712 under the cost neutral early retirement scheme," he wrote.

A spokesperson for the Department of Public Expenditure and Reform said it was purely procedural that he would resign from the director's position before retiring.