Written answers

Thursday, 1 March 2012

Department of Finance

Departmental Agencies

5:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 73: To ask the Minister for Finance if he will provide details of the number of persons employed by the National Treasury Management Agency, showing the details for National Asset Management Agency staff separately, who received bonus payments in respect of 2011; the overall amount that was paid; the highest amount paid to any individual; and the average payment to the employees in question. [12077/12]

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 74: To ask the Minister for Finance the number of persons employed by the National Treasury Management Agency including the National Asset Management Agency who took a reduction in their basic salary in the past 12 months; and the overall aggregate amount of the reductions incurred by persons employed by the organisation. [12078/12]

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Question 75: To ask the Minister for Finance the overall number of persons employed by the National Treasury Management Agency, shown by the agency's constituent bodies; and the average salary which was paid in respect of 2011. [12079/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I propose to take Questions Nos. 73 to 75, inclusive, together.

I am informed by the National Treasury Management Agency that the Agency's remuneration review in respect of 2011 is currently being finalised. Last December I wrote to the NTMA Chief Executive asking him to ask all NTMA employees whose salary exceeds €200,000 to consider waiving at least 15% of salary or such amount of salary as exceeds €200,000. The Chief Executive replied that he and the CEO of NAMA would waive 15% of their salaries and that he had circulated my letter to the other NTMA employees concerned asking them to respond to him on the matter.

The total number of NTMA employees at end-2011 is set out in the table below.

NTMA Staffing 31 December 2011
Funding and Debt Management12
Banking Unit9
State Claims Agency63
National Pensions Reserve Fund10
National Development Finance Agency34
National Asset Management Agency193
NewERA6
Finance, IT and Risk70
HR and Corporate Services8
Legal, Control and Compliance16
Other12
Total433

The average salary of NTMA employees at end-2011 was €93,225.

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