Michael McGrath (Cork South Central, Fianna Fail)
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140. To ask the Minister for Finance if he will provide details for each of the State-supported banks, including Irish Bank Resolution Corporation in liquidation, of the number of employees with a remuneration package of between €100,000 and €150,000; a remuneration package of between €150,001 and €200,000; a remuneration package of between €200,001 and €300,000; a remuneration package of between €300,001 and €400,000; and a remuneration package of more than €400,000; if he will specify if any such employees have yet taken a reduction in their remuneration on foot of the Mercer report; and if he will make a statement on the matter. [36455/13]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware I provided the following information in response his question no. 192 (51096/12) of 20 November 2012

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.

More recent information regarding total remuneration can be found in the Review of Remuneration Practices & Frameworks at the Covered Institutions (the “Mercer Report”) which was published by my Department on 12th March 2013. The following breakdown of total remuneration appears on page 43 of that review.

Note 1: There are differences in data methodology, timing and exchange rates which account for differences in the data presented here and that shown in responses to parliamentary questions. Data for PTSB and IBRC is not shown for reasons of data protection.

As I stated in earlier replies to Parliamentary Questions on this matter I can confirm that the three State supported banks responded with their individual strategies, designed to achieve the required savings, by the due date of 30 April as requested by the Government in response to the Mercer Report. I was not prescriptive in how this was to be achieved respecting their differing State ownership and investment and paths to profitability.

It is not possible at this stage to reveal precise individual details bar what has been put into the public domain. I can confirm that all three institutions have put forward pension changes to varying degrees as part of their respective overall responses.

As I have said previously I am constrained as to what I can say presently due to commercial sensitivities and perhaps, more critical at this stage, industrial relations concerns as the normal protocols continue and need to be respected and observed by all parties. This is something I have advocated throughout this process. I am anxious, therefore, that all the participants in these discussions are given space and time to conduct these critical negotiations.

At this stage, it would not be appropriate or realistic to specify a timeframe for the savings to be delivered. However, in view of the fact that the three institutions continue to be loss making the timely delivery of such savings which will have an ongoing impact on the cost base is critical to their viability, the availability of credit to the economy and to the future employment prospects of their employees.