Written answers
Thursday, 19 July 2012
Department of Finance
Departmental Agencies
5:00 pm
Mary Lou McDonald (Dublin Central, Sinn Fein)
Link to this: Individually | In context
Question 117: To ask the Minister for Finance the annual saving to the Exchequer if all board members fees paid to agencies under his aegis were cut by 25%, 35% and 50%. [36620/12]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context
In response to the Deputy's question the following table gives of the savings to be achieved if fees to board members were cut. Savings resulting from cuts in fees
| Body | Saving if 25% cut in Fees | Saving if 35% cut in Fees | Saving if 50% cut in Fees |
| Fiscal Council | €17,400 | €23,940 | €34,200 |
| Central Bank | €14,963 | €20,948 | €29,926 |
| Credit Union Advisory Committee | €4,631 | €6,484 | €9,263 |
In relation to National Treasury Management Agency and associated bodies I have been provided with the following information in relation to fees paid to board members.
| Board/Body Name | No of board members | Remuneration details in respect of board members and board chairpersons |
| National Treasury Management Agency Advisory Committee | Up to 7 Board members.Currently 1 vacancy | Chair €50,000.Agreed to make a gift of 10% of 2009 remuneration to the Minister for Finance under s483 of the Taxes Consolidation Act.Ordinary Members €25,000.Agreed to make a gift of 10% of remuneration to the Minister for Finance under s483 of the Taxes Consolidation Act from 1 January 2009.Secretary General Department of Finance receives no fee in respect of his membership. |
| National Development Finance Agency (NDFA) | Up to 8 Board members. | Chairman, as an ex-officio member, receives no fee.Ordinary Members €12,600 p.a.2 members (Chief Executive of the NTMA and the Chief Executive Officer of the NDFA) receive no fees in respect of their membership. |
| National Pensions Reserve Fund Commission | Up to 7 Board members | Chair €51,424.Ordinary members €34,283.One member (Chief Executive of the NTMA) receives no fee in respect of his membership. |
| National Asset Management Agency | Up to 9 board membersCurrently 2 vacancies | The Chairman receives a fee of €150,000, six members receive fees of €60,000 each per annum while one member (also Chairman of the Credit Committee) receives a fee of €75,000 per annum. Each member of the NAMA Board also chairs or is a member of various NAMA Board committees. Their fees associated with these committees are included in the above.2 ex-officio members (Chief Executive of the NTMA and the Chief Executive Officer of NAMA), receive no fees in respect of their membership. |
| State Claims Agency Policy Committee | Up to 7 Board membersCurrently 2 vacancies | Chair €13,713 p.a.Ordinary members €9,142 p.a.2 members (serving civil servants) do not receive fees in respect of their membership. |
No comments