Leo Varadkar (Dublin West, Fine Gael)
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Question 110: To ask the Minister for Finance if he was briefed before the awarding of a pension package to the former chief executive of the financial regulator; if he approved of the extra payments granted; and if he will make a statement on the matter. [46151/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Chief Executive of the Financial Regulatory Authority holds office on such conditions of employment as are specified in the person's contract of appointment or are later agreed between the person and the other members of the Regulatory Authority. However, the Regulatory Authority has informed me that pension benefits to the former Chief Executive are payable in accordance with the Central Bank and Financial Services Authority of Ireland Superannuation Scheme. This Scheme has terms and conditions which allow, in certain circumstances, for the payment of full pension benefits in cases where less than 40 years service is accrued.

I am informed that the former Chief Executive had two years remaining on his contract. I am also informed that, having regard to strong independent legal advice, the Authority agreed to the payment of an additional €151,500 to the former Chief Executive, equivalent to six months remuneration, plus an additional two months salary, in return for which he agreed to make himself available exclusively available to the Authority for a period of three months.

Leo Varadkar (Dublin West, Fine Gael)
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Question 111: To ask the Minister for Finance the number of pension packages he has approved since June 2007; the number of these that involved extra payments for time not served; and if he will make a statement on the matter. [46152/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The number of pension packages which have been approved since June 2007 is twenty six, twenty five of which included an award of notional service. This figure excludes commercial State Bodies and any retirements under the ill-health provisions, the Incentivised Scheme of Early Retirement and the Cost Neutral Early Retirement Scheme. It also excludes individuals e.g. Secretaries General of Government Departments and CEOs of non-commercial State Bodies who exited within the approved terms of their pension/severance arrangements.