Written answers

Tuesday, 3 November 2009

Department of Finance

Semi-State Bodies

8:00 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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Question 381: To ask the Minister for Finance if guidelines on the superannuation of chief executives of State sponsored bodies on severance, early retirement or resignation have been issued since those issued on 26 May 1998; and if he will make a statement on the matter. [38960/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
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Further guidelines were issued in June 1998 clarifying that a person may not receive a greater number of years than the additional service he or she would have if the person served to maximum retirement age. They also clarified that the grant of additional service may not lead to a person having more than the maximum pensionable service allowed under the relevant pension scheme (i.e. 40 years in most cases).

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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Question 382: To ask the Minister for Finance if, with regard to the superannuation and pension package granted to a person (details supplied) which he approved, his views on the fact that subsection 3 of section 6 of the Labour Services Act 1987 gave him [i]carte blanche[/i] to approve a package without limitations; if not, the legislation, scheme or guidelines that were used to grant their retirement package; and if he will make a statement on the matter. [38961/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
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The Labour Services Act 1987 provides that terms and conditions, including those in relation to remuneration and superannuation, of the office of the Director General, may be determined by the Minister for Enterprise, Trade and Employment, with the consent of the Minister for Finance. Accordingly, in the case in question, it was under section 6(3) of the Labour Services Act that the superannuation arrangements were approved. The approved superannuation terms were broadly in line with the guidelines in the letter of 26 May 1998 from the Department of Finance to the Heads of Departments/Offices. In addition to the superannuation terms above, an additional 3 months severance was agreed as part of the final package which was on top of the 3 months salary in lieu of notice that was provided for in the individual's contract.

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