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Dublin: 16 °C Thursday 30 October, 2014

Fianna Fáil to publish legislation to reduce bankers’ pensions

The full details of the bill on senior banking executives’ pensions will be given by the party’s spokesperson on Finance, Michael McGrath, tomorrow.

Deputy Michael McGrath
Deputy Michael McGrath
Image: Laura Hutton/Photocall Ireland

FIANNA FÁIL IS to publish special legislation tomorrow to reduce the pensions paid to senior executives in Irish banks.

Fianna Fáil spokesperson on Finance, Michael McGrath, will give the full details on the provisions of the legislation tomorrow, but it is believed it will cover both the pensions of current senior executives and former senior banking executives.

After publishing the bill, he will then seek leave to introduce it in the Dáil. If it is given the go-ahead, it will move forward from there.

Earlier this month, it emerged that the Chief Executive of Allied Irish Banks wrote to the bank’s former senior executives asking them to consider waiving some of their pension entitlements.

Read: Taoiseach welcomes cut to ex-AIB chief’s pension>

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