Carol Nolan (Offaly, Independent)
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488. To ask the Minister for Finance to state the arrangements which apply to setting the salary of the CEO of NAMA; whether ministerial approval is required for this salary level; and if he will make a statement on the matter. [24330/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I can advise the Deputy that the remuneration of the CEO of NAMA is determined by the NTMA CEO after consultation with the NAMA Board, who are informed by the views of the remuneration committee. In relation to the salary of the CEO of NAMA, the NAMA remuneration committee makes recommendations to the NAMA Board having regard, inter alia, to requirements of the Code of Practice for the Governance of State Bodies 2016 in relation to such remuneration. Section 37 (3) of the NAMA Act of 2009 states that the remuneration of the CEO shall be determined in accordance with Sections 7(2) and 8 of the NTMA Act of 1990.

The CEO’s pension entitlements do not extend beyond the standard terms of the model public sector superannuation scheme. Remuneration includes salary, taxable benefits and a discretionary performance related payment of up to 60% of annual salary. However, to note, the CEO has waived his entitlement for performance-related pay each year since inception. Taxable benefits can include health insurance, company car, professional subscriptions.