Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

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^th March 2013. The following breakdown of total salary and remuneration appears on page 43 of that review.

	AIB	AIB	BOI	BOI
Number of staff	Salary	Remuneration	Salary	Remuneration
€300,000 - €399,999	7	11	20	34
€400,000 - €499,999	3	11	12	15
€500,000 or over	0	0	6	11

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. 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 -

-		AIB	BoI(2),	IBRC	PTSB
Chief Executive	Number of employees	1	1	1	1(4)
	Salary	€425,000	€623,000(3)	€500,000	€400,000
	Total Remuneration	€488,800	€776,400	€683,600	€460,000
Senior Executives (1)	Number of employees	8	8	7	9
	Salary	€327,200	€408,3003	€365,100	€209,300
	Total Remuneration	€434,200	€517,400	€535,700	€269,600
Executives	Number of employees	118	103	46	20
	Salary	€174,800	€198,700	€184,100	€173,900
	Total Remuneration	€230,100	€251,800	€253,900	€220,100
Senior Manager / Manager	Number of employees	2,199	3,326	291	271
	Salary	€87,100	€76,800	€87,200	€83,000
	Total Remuneration	€108,300	€96,600	€115,600	€109,200
Assistant Manager / Senior Specialist	Number of employees	3,508	2,405	219	554
	Salary	€51,500	€49,800	€55,100	€52,700
	Total Remuneration	€62,300	€61,200	€61,900	€65,200
Senior Clerical / Specialist	Number of employees	1,584	3,617	237	518
	Salary	€44,100	€41,800	€40,400	€43,800
	Total Remuneration	€54,600	€49,900	€45,100	€54,900
Clerical	Number of employees	7,034	4,789	200	982
	Salary	€32,600	€29,600	€31,300	€30,000
	Total Remuneration	€37,300	€35,800	€34,500	€34,400

Notes:

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.

Remuneration of NTMA employees (including taxable benefits) as at end December 2013 is set out below. All NAMA staff are employees of the NTMA and under Section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. NAMA reimburses the NTMA the costs of staff assigned to NAMA.

NTMA Remuneration as at 31 December 2013 (post FEMPI reductions)
	NTMA (ex NAMA)	NAMA	Total
Up to €100,000	258	223	481
€100,001 to €200,000	57	105	162
€200,001 to €300,000	8	2	10
€300,001 to €400,000	1	2	3
€400,001 to €450,000	1	0	1
Total	325	332	657

The figures above exclude pension contributions. The Public Service Pension Deduction is applied to NTMA employees. 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 1/80^th of salary accruing for each year of service.

The banks will provide updated remuneration disclosures in their 2013 financial statements which will be issued in the coming months.