Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance if he will provide details in tabular form of the number of staff for each covered institution earning a total remuneration package including pension payments, allowances including travel, accommodation, entertainment, car and related expenses and benefits of between €100,000 and €200,000, between €200,001 and €300,000, between €300,001 and €400,000, between €400,001 and €500,000; and the number with more than €500,000; and if he will make a statement on the matter. [51096/12]

Michael Noonan (Limerick City, Fine Gael)
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The covered institutions have supplied me with the following information in relation to total remuneration:

Note 1: The data from AIB and IBRC is as of Nov-12, PTSB’s data refers to Dec-11 while BOI data is as of September 30th, 2012.

Note 2: BOI has estimated total remuneration by taking base salary and adding 26% as an estimate of potential non-salary benefits such as pension provision and allowances. This estimate is in the absence of individualised assumptions and estimates regarding an individual’s usage of/eligibility for certain potential benefits.

As the Deputy will no doubt be aware the covered institutions have announced plans to reduce staff costs. AIB, BOI, IBRC and PTSB have announced voluntary severance schemes. Further information on these schemes can be found in the interim reports of the individual institutions.

AIB has reduced pay and benefits of higher earners by between 7.5% and 15% in H2 2012; AIB’s defined benefit pension scheme is to close from end 2012 for future service and other long standing staff benefits have been withdrawn. For other staff a pay freeze has been in operation since 2008 and the bank is in discussion with the IBOA to extend this to 2014.

Remuneration costs at IBRC have also been reduced as I disclosed in my response to PQ’s 48607/12 and 48608/12.

As the Deputy will also be aware my Department has engaged Mercer to carry out a detailed review of remuneration across the covered banks. The results of this review are expected by the end of the year.