Written answers

Tuesday, 30 June 2015

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

229. To ask the Minister for Finance the individual amounts that former National Asset Management Agency employees received while on gardening leave last year from the €400,000 paid out under the heading; and if he will make a statement on the matter. [25797/15]

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

I am advised by NAMA that 17 NTMA staff assigned to NAMA under Section 42 of the NAMA Act were placed on garden leave during 2014 with an attributable cost of approximately €400,000 inclusive of Employer's PRSI.NTMA staff are employed on the basis of confidential individually negotiated contracts.

I am further advised by NAMA that garden leave does not represent an incremental cost but instead forms part of the overall NAMA salary cost that is refunded to the NTMA. This cost would have been incurred regardless of the decision to place the relevant staff on garden leave, that is, if they continued attending work in NAMA whilst under notice. The decision on whether or not to place staff on garden leave is made on a case-by-case basis and would include consideration, inter alia, of the person's role within NAMA and the person's new employer. The average period of garden leave for the 17 staff was two months.

NAMA's Annual Report and Financial Statement for 2014, which is available on the NAMA website () also provides the above information (p.115). I would encourage anyone interested in the workings and performance of NAMA who has not yet read these yearly reports to take the time to do so as they are a rich source of information regarding NAMA's performance.

Comments

No comments

Log in or join to post a public comment.