AIB pays 97 former employees pensions of more than €100,000

AIB's pension schemes are paying more than €100,000 a year to 97 former employees, Minister for Finance Michael Noonan said yesterday. This represents 1.88 per cent of AIB's total pensioner population.

It emerged from a written response to questions from Sinn Féin's finance spokesman Pearse Doherty about the bank, which is 99.8 per cent owned by the State following a €20.8 billion bailout.

Mr Doherty had sought detailed information about annual pensions of more than €100,000 paid to former employees by AIB, Bank of Ireland, Permanent TSB, the National Treasury Management Agency and the National Asset Management Agency.

The Sinn Féin TD sought information in tabular form from each institution as to the number of pensioners paid:

€100,000-€200,000

€200,001-€300,000

€300,001-€400,000

€400,001-€500,000

in excess of €500,000.

In relation to AIB, the Minister said the number of retired employees being paid a pension on May 31st this year was 5,165. He said the data for these pensions is the property of the trustees of the schemes and is covered by data protection legislation.

“Both the trustees and the bank have taken legal advice in relation to the release of the information requested in tabular form,” Mr Noonan said. “On the basis of this legal advice, the trustees have agreed to provide to AIB, for onward disclosure, aggregate data only, to ensure that there is no disclosure of personal data. In total, there are 97 pensions in payment in excess of €100,000 across the AIB group pension schemes.”

AIB made no other breakdown of pension payments available.

In relation to Bank of Ireland, the Minister directed Mr Doherty to the information on pensions available from the company’s annual report for 2013.

In the case of Permanent TSB, Mr Noonan said it “is in a unique position”. “Its pension schemes have been wound up and the trustees of the various schemes are currently arranging for the assets of the schemes to be allocated among the pensioners, deferred employees and current employees. This process is still ongoing and details of benefits provided are not available.”

Mr Noonan said two former employees of the NTMA are in receipt of a pension of between €100,000-€200,000 and one is in receipt of a pension of between €200,001-€300,000.

No information was given in relation to Nama. The agency was established in 2009 and its staff are employed by the NTMA and then seconded to the loans agency.