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  • 1.5 million super Top Up.

    The Bank of Ireland has topped up the superannuation of its boss Richie Boucher
    with 1.5 million euros. Ireland must be doing very well and the bank Of ireland in perticular to be so generous, the economy must be booming, congradulations to Richie, with an annual salary of 623,000 euros he needs a decent super to keep in in a life style he has got accustomed to.

  • #2
    The B O I announced on Friday last that they were selling off their pensions company and as a result will be able to buy back a lot of the shares that the Government hold in the bank, the figure mentioned was €450 million. All of this has been done after consultation etc witht he powers that be in Europe. They will then be the only Irish bank not to be run by Leinster house, maybe thats why Boucher has got his rise???

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    • #3
      Originally posted by Womblemum View Post
      The B O I announced on Friday last that they were selling off their pensions company and as a result will be able to buy back a lot of the shares that the Government hold in the bank, the figure mentioned was €450 million. All of this has been done after consultation etc witht he powers that be in Europe. They will then be the only Irish bank not to be run by Leinster house, maybe thats why Boucher has got his rise???
      Did the shareholders lose their holdings?
      Such is life - Ned Kelly

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      • #4
        Its obscene what has and is still going on at the 'top'.

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        • #5
          Independent.ie
          Lise Hand: TDs hungry for more after getting their man
          By Lise Hand
          Friday April 23 2010


          BY golly but tails were up all around the Dail chamber yesterday. Chests were puffed out with satisfaction and the smell in the air was the sweet scent of victory.

          Finally, finally, after a prolonged spell of every sort of political pressure from feather-light hints (the Taoiseach) to outright statements (Eamon O Cuiv), the Bank of Ireland chief Richie 'Rich' Boucher caved in on Wednesday night and agreed to forego his €1.5m pension fund top-up.

          The sum, of course, is chicken-feed in the bigger and utterly dismal picture of the billions blown by our bonkers bankers, but, nonetheless, the prospect of one bigwig being denied his sweeties did imbue the citizenry with a bit of a warm, fuzzy glow yesterday.

          And so there was a strut in the steps of the deputies as they took their seats for the Order of Business.

          The trouble is it's a bit addictive, this victory stuff. Having persuaded one bank boss to see sense, the Dail denizens were eager for a follow-up success.

          They hungered to make another big wheel snack on some humble pie.

          And the glaringly obvious target was Michael Fingleton, the former potentate of Irish Nationwide, who earned himself a nice €1m bonus last year -- presumably for sterling work he did in a parallel universe.

          However, introducing the subject of this goateed grandee of the banking sector would prove a bit tricky as the morning's Dail session was the Order of Business, which deals solely with legislation and bills and the like -- though given the gigantic size of the bill that Fingers has presented to the Irish taxpayers, some parliamentary leeway was surely called for.

          And sure enough, Enda Kenny was out of the traps like a ravenous greyhound, hot in pursuit of the moneymen and their pots of gold.

          Though in fairness to the Fine Gael leader, he did his damnedest to tack them on to a question about legislation.

          "Does the Government intend to introduce legislation to do something about the extent of bonuses and pensions paid to persons who were clearly grossly incompetent in their duties?" he harangued the Tanaiste.

          On his bridge the Ceann Comhairle, Captain Kirk, went on red alert. He sensed a cling-on on the legislative bow.

          "I must draw the attention of the House to the fact that we have no provision for Leaders' Questions on a Thursday morning. It is hugely problematical," Seamus reminded Enda.

          But Mary Coughlan was happy enough to oblige.

          "I am not aware of any further legislation that may be introduced in this regard," she told him, and then firmly put the boot into Fingers.

          "I am on the record since last year, as are many of my colleagues, as saying that Mr Fingleton should return the €1m," she stressed repeatedly.

          However, Enda was clearly on the hunt for another scalp.

          He hounded the Tanaiste on whether legislation would be introduced to control bankers' bonuses and salaries, reminding Mary that her boss had suggested that it was possible as part of a range of measures to rein in the bankers.

          "The Taoiseach said 'in every respect' and I assumed that included legislation," he informed the Tanaiste.

          Mary rose to reply.

          "One cannot make assumptions on anything that's said in this House. We have to deal with the issue of fact," she scolded Enda.

          That was too good for Enda to let pass, so he retrained his gun-sight on Mary Malaprop. "I am glad the Tanaiste said that we cannot assume what the Taoiseach says is the truth," he sniped.

          The Tanaiste shot out of her seat. "Ceann Comhairle, CEANN COMHAIRLE!" she fair squeaked in outrage.

          "That is a scurrilous remark that I will not accept on this side of the House," she seethed.

          Seamus hastily intervened. "Deputy Kenny, if an accusation is to be levelled against any member of the House, there is a procedure for doing this."

          Enda was the picture of innocence as he sprang the trap. "What's the allegation, Ceann Comhairle?"

          Seamus walked straight in. "Well, you know, that you can't believe what the Taoiseach says," he trailed off, to delighted guffaws from the opposition benches.

          Enda stuck to his guns.

          "The Tanaiste said to me that I cannot assume that what the Taoiseach says is going to happen," he insisted.

          Mary decided to try a bit of charm. "I have known Mayo men for a long time, and I know that one cannot leave a Mayo man to take something by interpretation," she grinned at the Castlebar man, in a reference to her own husband who hails from Enda's home county.

          It worked, too, and Mary was left in peace to try and unscramble her own statement. "Let's not twist the words," she suggested.

          "The Taoiseach has indicated that every effort will be made in every respect. That is not to necessarily say that it will be legislation," she explained, and then veered dangerously close to another verbal twister.

          "It is not necessarily to say it will be one thing or another."

          Indeed. With logic like that, it looks like Fingers can count his megabucks in peace for some time yet.

          - Lise Hand

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          • #6
            Bangers, do the finance folks do this crap EVERYWHERE? I used to tell myself I should have went to work for Goldman Sachs or some such place when I received my degree in business.......but, I like to sleep at night. I work for the government instead.
            I believe in.......

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            • #7
              By Fionnan Sheahan, Michael Brennan and Breda Heffernan
              Saturday April 24 2010

              SIXTEEN sitting TDs are refusing to hand back their lucrative ministerial pensions.

              A survey carried out by the Irish Independent revealed that 16 TDs, two senators, two MEPs and our European Commissioner are still topping up their salaries with pensions that cost taxpayers more than €500,000 a year.

              The highly paid politicians are clinging on to their lucrative ministerial payments despite Government and opposition complaints about bank bosses' pension entitlements.

              European Commissioner Maire Geoghegan-Quinn yesterday refused to say why she won't give up €108,000 from two political pensions, which she is paid on top of her €243,000 EU salary.

              The former Fianna Fail minister is raking in €350,000 at taxpayers' expense, as well as other perks in her Commissioner's post. And Ms Geoghegan-Quinn won't be hit by the cuts to ministerial pensions paid to sitting TDs.

              The Government reduced the ministerial pensions for sitting TDs by 25pc last year. After the next general election, a sitting TD will not be allowed to also pick up a ministerial pension.

              But the Government has no plans to advance this deadline.

              But until the next general election, the 20 TDs, senators and MEPs are to continue to be paid ministerial pensions on top of their salaries. Long-serving TDs are paid €98,424.

              Among the TDs to pick up the pensions are former Taoiseach Bertie Ahern, Fine Gael deputy leader Richard Bruton and former Labour leader Ruairi Quinn.

              Also on the list are Fianna Fail's Frank Fahey, Jim McDaid, Ned O'Keeffe, Michael Woods -- although he has given up half his amount -- Terry Leyden, Ivor Callely and Pat 'the Cope' Gallagher.

              Fine Gael is represented by Bernard Allen, Sean Barrett, Paul Connaughton, Bernard Durkan, Michael Noonan, Jim O'Keeffe and Jim Higgins, along with Labour's Brian O'Shea and Emmet Stagg.

              But another nine politicians have given up their ministerial pensions, including FG leader Enda Kenny, Labour leader Eamon Gilmore and FF TD Mary O'Rourke.

              Labour's Michael D Higgins became the latest TD last night to announce he was giving up his pension later this year.

              He said he had written to Finance Minister Brian Lenihan to ask him to come up with an across-the-board cut -- and had been using his ministerial pension to finance African development projects in the meantime.

              "I will end it altogether during this year," he said.

              A spokesman for Mr Ahern confirmed that the former Taoiseach was receiving his ministerial pension on top of his TD's salary. However, he argued the size of his Mr Ahern's pension had already been reduced by legislation.

              Reduction

              "Bertie Ahern has taken a reduction of 25pc on his ministerial pension," the spokesman said.

              Ms Geoghegan-Quinn ref-used to justify her pension bonanza by continuing to pick up her political pension while she represents Ireland in Europe.

              "Well that's a question that I have refused to comment on up to now and I continue to refuse to comment on it," she told RTE's 'News at One'.

              Ms Geoghegan-Quinn was nominated as European Commissioner by the Government last autumn.

              Previously she was a member of the European Court of Auditors.

              A European Commission spokesman said she was not in receipt of a pension from the Court of Auditors.

              She gets a ministerial pension of €64,000 and a TD's pension of €44,000.

              On top of her European Commissioner salary of €243,338, she also gets paid a residence allowance of €36,500 and an entertainment allowance of €7,284.

              Ms Geoghegan-Quinn was accompanied on her trip to Dublin yesterday by an adviser, but he did not respond to queries from the Irish Independent.

              After the next general election, sitting TDs will not be allowed to pick up a ministerial pension. But Ms Geoghegan-Quinn will also be unaffected by this clampdown. She was also unaffected by last year's 25pc cut on ministerial pensions.

              The Department of Finance confirmed that these cuts announced last summer would have no impact on Ms Geoghegan-Quinn.

              "The changes apply to members of the Oireachtas, and in due course the European Parliament, but excludes the Commission," a spokesman said.

              Sitting TDs who are former ministers will continue to get pensions until the next general election, despite the whining about Bank of Ireland boss Richie Boucher's pension pot.

              The list of former ministers continues to grow with Willie O'Dea's resignation.

              Their pensions were reduced by 25pc last year, with the Government claiming legal advice saying they couldn't go any further.

              After the elections, former ministers will no longer receive pensions on top of their TD's salaries.

              Tourism Minister Mary Hanafin yesterday confirmed that Government had no plans to advance this deadline.

              - Fionnan Sheahan, Michael Brennan and Breda Heffernan

              Irish Independent[/I][/B]

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