Pearse Doherty (Donegal South West, Sinn Fein)
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149. To ask the Minister for Finance if he will provide in tabular form the number of staff that are receiving a total remuneration package including pension payments, allowances and benefits of between €100,000 and €200,000, between €200,000 and €300,000 , between €300,000 and €400,000, and the number with more than €500,000 at all of the covered banking institutions, the National Treasury Management Agency and National Asset Management Agency. [52982/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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153. To ask the Minister for Finance if he will provide in tabular form, with respect to each of Bank of Ireland, Allied Irish Banks, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency, the number of staff whose current annual salary falls into bands of €400,000 and above, between €300,000 and €399,999, between €200,000 and €299,999, between €150,000 and €199,000, and between €100,000 and €149,999. [52986/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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155. To ask the Minister for Finance when he will publish the submissions from Bank of Ireland, AIB and PTSB following the Mercer report; and if any substantial contribution from the leadership of the banks on pay and pensions has materialised and to quantify this contribution. [52988/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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156. To ask the Minister for Finance the total final cost of the Mercer Report. [52989/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 149, 153, 155 and 156 together.

As the Deputy will be aware the Review of Remuneration Practices & Frameworks at the Covered Institutions (the "Mercer Report") was published by my Department on 12 March 2013. The following breakdown of total salary and remuneration appears on page 43 of that review.

There is a whole host of additional disclosures in the report that give further detailed breakdowns of pay across the banks, in particular the chart on page 42 and the table on page 46 which shows a breakdown by institution by grade of the number of staff, their salary and total remuneration, as follows.

1. The Leadership Team in AIB.

2. US employees are not included in the corporate grading structure and are therefore not included in this analysis.

3. Salary figures are net of a voluntary waiver where applicable.

4. 2012 Chief Executive data extracted from responses to recent Parliamentary Questions.

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. I have reviewed the letters submitted and I am satisfied that the banks will deliver remuneration cost savings of 6% to 10%.

The Bank of Ireland letter focused on changes to the defined benefit pension scheme that will affect all staff who are members of this scheme and as the deputy will be aware an agreement has now been reached with the IBOA in this regard. The AIB proposal included the closure of the defined benefit scheme to future accrual along with other changes including an increase in working hours which were agreed with the IBOA in July. The ptsb proposal centred on the wind-up of the defined benefit pension scheme for all staff who were members of this scheme.

For clarity senior management in the banks have made the following contributions; in the case of Bank of Ireland the proposed pension changes affect all staff in the BSPF scheme including the Chief Executive. AIB has taken the following specific actions to address remuneration levels: reductions in pay and benefits of higher earners ranging from 7.5% to 15% implemented in the second half of 2012 and it also should be noted that the AIB Leadership Team have all joined the bank since 2008 and receive reduced pension contributions from their predecessors. In the case of ptsb all senior management have been negatively impacted .

The National Treasury Management Agency published a table of salaries by salary band at the end of 2012 on page 35 of its annual report; the table shown below splits the staff into individuals who work for NAMA and the NTMA. It should be noted that staff in the NTMA and NAMA we subject to reductions in pay under the Financial Emergency Measures in the Public Interest ACT 2013.

1. The public service pension deduction is applied to NTMA employees.

2. In December 2011 the Minister for Finance requested NTMA employees whose salaries exceeded €200,000 to waive 15 per cent of salary or such amount of salary as exceeds €200,000 if application of the full 15 per cent reduction would bring their salary to below €200,000. Reductions in respect of employees waiving such amounts are reflected in the above table.

The total cost of the Mercer report was €119,000 (ex VAT).

Pearse Doherty (Donegal South West, Sinn Fein)
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150. To ask the Minister for Finance the total remuneration received by each of the chief executive officers of Bank of Ireland, Allied Irish Banks, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency; if he will provide a listing and quantification for each of any additional benefits paid; and in respect of any expenses allowance, if such allowances are paid only in respect of vouched and receipted expenditure. [52983/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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151. To ask the Minister for Finance if the chief executive officers of Bank of Ireland, Allied Irish Banks , Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency are employed on a temporary contract; if so, the date on which this contract was entered into; the termination date of this contract; and if he will quantify any termination payments provided for under the contract. [52984/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 150 and 151 together.

Chief Executive Officers' (CEO) remuneration for 2012 is included in the following table.

(i) A reduction of 15% in total remuneration was applied with effect from 1 September 2012.

(ii) 'Pension Contribution' represents agreed payments to provide post retirement pension benefits for Executive Directors from normal retirement date.

(iii) The CEO has with effect from 1 May 2009, waived a portion of his salary (€67,000 for the year ended 31 December 2012). The salary shown in the table is the net amount after that waiver. The voluntary waiver has been extended until 31 December 2013.

(iv) The figure includes car allowances and, where applicable, benefits in kind.

(v) The amount relates to the Bank's pension funding contribution in respect of the pension benefit they accrued in line with their contractual entitlement during 2012.

(vi) Executive Directors are entitled to a company car or car allowance. The Group also pays private health insurance on behalf of the Executive Directors and their families. In addition, Executive Directors may avail of subsidised house purchase loans. Loans to Executive Directors are on the same terms and conditions as loans to other eligible ptsb management. The CEO took up his position at the end of February 2012.

(vii) The CEO is a member of ptsb Defined Contribution Pension Scheme. The Group contributes to this pension scheme and contributions are determined solely in relation to basic salary. The Employer Pension contribution in 2012 was €53,000 from the end of February 2012.

(viii) The remuneration of the CEO is determined by the Minister of Finance after consultation with the Advisory Committee. The CEO agreed to waive 15% of his salary following a request by the Minister of Finance and this adjustment is reflected above. The remuneration consists of basic salary, taxable benefits (car and health insurance) and a performance related payment of up to 80% of annual salary. The CEO waived any consideration for performance related pay in respect of 2012 (as he did previously in respect of 2011 and 2010).

(ix) The CEO's pension entitlements are within the standard entitlements in the model public sector defined benefit superannuation scheme.

(x) The remuneration of the CEO is determined by the NTMA CEO after consultation with the NTMA Advisory Committee. In giving advice on remuneration, the NTMA Advisory Committee is informed by the views of the NTMA Remuneration Committee. The remuneration of the CEO consists of a basic salary, taxable benefits and a performance related payment of up to 60% of annual salary. The CEO was entitled to be awarded a performance payment for 2012, but in view of the economic challenges facing the country, waived his entitlement to this payment. The 2012 salary reflects a 15% voluntary reduction.

AIB

David Duffy was appointed as Chief Executive Officer of Allied Irish Banks, p.l.c. in December 2011 on a fixed term contract of three years with an option to renew for up to a further three years by mutual agreement and a six months' notice period subject to a maximum compensation of six months' salary.

BOI

Information regarding the appointment and remuneration of Bank of Ireland Directors, including Group CEO, are contained within the 2012 Annual Report (pages 115-134).

PTSB

The CEO is not on a temporary contract so the detail does not apply. In accordance with the CBI code there are no Director's service contracts with notice periods exceeding twelve months or with provisions for pre-determined compensation on termination which exceeds one year's salary and benefits.

NTMA

The Chief Executive of the NTMA has a fixed term contract. No termination payments are provided for under the contract.

NAMA

The Chief Executive of NAMA has a specified purpose contract. No termination payments are provided for under the contract.

Pearse Doherty (Donegal South West, Sinn Fein)
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152. To ask the Minister for Finance if he will provide in tabular form for each of Bank of Ireland, Allied Irish Banks, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency, the number of retired employees currently being paid a pension; if he will provide separately the number currently in the employment of the covered institution but who will in due course be entitled to a pension 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 in excess of €500,000. [52985/13]

Michael Noonan (Limerick City, Fine Gael)
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The following are the details of the number of retired employee at each of the institutions.

i) AIB numbers as at 30 September 2013

ii) ptsb numbers as at 31 December 2012

While the trustees of the schemes have actuarial models which allow them to forecast the financial state of the various schemes, these models are not available to my department and the institutions rely on their pension trustees for forecasting. In addition to the points above, due to the small number of individuals in some institutions, even if it were possible to calculate the data, it would not be possible to release the information due to data protection constraints on personal data.

NTMA employees are members of the NTMA defined benefit superannuation scheme or else have Personal Retirement Savings Accounts. The pension benefits of members of the NTMA superannuation scheme prior to 1 January 2010 are based on final salary. The pension benefits of members who joined the scheme on or after 1 January 2010 are based on career average earnings. Unlike most public pension schemes which are funded on a pay as you go basis, the NTMA superannuation scheme is a funded scheme. Pension entitlements are within the standard entitlements in the model public sector defined benefit superannuation scheme. Pension contributions are not paid to individual employees – they are paid into the scheme. The level of potential pension payments to members is dependent on length of service, based on final salary or career average earnings, with 1/80th of salary accruing for each year of service.