Menu
21/04/2010
Tánaiste Calls On Bank Boss To 'Reflect On Public's Anger'
The Tánaiste is calling on the Bank of Ireland Chief Executive to reflect on the 'anger' surrounding his €1.5 million pension top-up.
The call comes within days of the Minister for Social Protection, Éamon Ó Cuív's challenge to Bank of Ireland chief executive, Richie Boucher, to refuse a €1.5 million pension top-up.
Mr Ó Cuiv said on Monday that given the mess the banks had found themselves in, he could not understand why any leading banker would accept bonuses.
Today, Mary Coughlan stopped short of calling on Mr Boucher to forego the payment, but said he should reflect on the mood of the people.
"There is a natural anger..that the issue of banking has caused great trauma to the Irish people. Those who have the honour of being appointed as chief executives should appreciate that anger," she said.
Earlier, the Taoiseach said the Department of Finance was legally prevented from stopping the €1.5m pension payment.
Brian Cowen said the Cabinet had taken advice from the Attorney General, who said the Government had no legal authority to stop the bank making a payment into its own pension fund.
Meanwhile today, the Minister for Finance Brian Lenihan has announced the appointment of Mr Knut Kjaer and the re-appointment of Mr John Canning Jr to the National Pensions Reserve Fund Commission.
The National Pensions Reserve Fund was established by the Government in 2001 to meet as much as possible of the costs of Ireland’s social welfare and public service pensions from 2025 until at least 2055. The Fund also has investments in Bank of Ireland and Allied Irish Banks at the direction of the Minister for Finance, which is part of their recapitalisation. The Fund’s value was €22.3 billion at end-2009.
Announcing the appointments today yhe Minister said: "I am delighted to be able to announce the appointment of two such high-calibre appointees to the National Pensions Reserve Fund Commission as Mr Kjaer and Mr Canning.
"It is a tribute to the standing of the Fund internationally that two such respected individuals have agreed to serve as commissioners."
Both appointments are for five-year terms, as provided for in the National Pensions Reserve Fund Act 2000, and run from 2 April 2010.
(DW/BMcC)
The call comes within days of the Minister for Social Protection, Éamon Ó Cuív's challenge to Bank of Ireland chief executive, Richie Boucher, to refuse a €1.5 million pension top-up.
Mr Ó Cuiv said on Monday that given the mess the banks had found themselves in, he could not understand why any leading banker would accept bonuses.
Today, Mary Coughlan stopped short of calling on Mr Boucher to forego the payment, but said he should reflect on the mood of the people.
"There is a natural anger..that the issue of banking has caused great trauma to the Irish people. Those who have the honour of being appointed as chief executives should appreciate that anger," she said.
Earlier, the Taoiseach said the Department of Finance was legally prevented from stopping the €1.5m pension payment.
Brian Cowen said the Cabinet had taken advice from the Attorney General, who said the Government had no legal authority to stop the bank making a payment into its own pension fund.
Meanwhile today, the Minister for Finance Brian Lenihan has announced the appointment of Mr Knut Kjaer and the re-appointment of Mr John Canning Jr to the National Pensions Reserve Fund Commission.
The National Pensions Reserve Fund was established by the Government in 2001 to meet as much as possible of the costs of Ireland’s social welfare and public service pensions from 2025 until at least 2055. The Fund also has investments in Bank of Ireland and Allied Irish Banks at the direction of the Minister for Finance, which is part of their recapitalisation. The Fund’s value was €22.3 billion at end-2009.
Announcing the appointments today yhe Minister said: "I am delighted to be able to announce the appointment of two such high-calibre appointees to the National Pensions Reserve Fund Commission as Mr Kjaer and Mr Canning.
"It is a tribute to the standing of the Fund internationally that two such respected individuals have agreed to serve as commissioners."
Both appointments are for five-year terms, as provided for in the National Pensions Reserve Fund Act 2000, and run from 2 April 2010.
(DW/BMcC)
Related Irish News Stories
Click here for the latest headlines.
10 May 2012
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
27 August 2013
Gardaí Officers Arrested In Fraud Investigation
Two serving garda officers, suspected of fraudulent activity, have been arrested. The two officers, both in their 30s and understood to be based in the Dublin area, were arrested this morning by the Garda National Bureau of Criminal Activity. The arrests were made as part of an ongoing investigation into claims of fraudulent activity.
Gardaí Officers Arrested In Fraud Investigation
Two serving garda officers, suspected of fraudulent activity, have been arrested. The two officers, both in their 30s and understood to be based in the Dublin area, were arrested this morning by the Garda National Bureau of Criminal Activity. The arrests were made as part of an ongoing investigation into claims of fraudulent activity.
18 July 2016
Consultation Launched On Proposed Changes To Private Pensions Provisions
A consultation has been launched by the Pensions Authority addressing a package of proposals to reform and simplify supplementary private pensions provisions. The Authority is seeking submissions from all stakeholders and interested parties by the deadline of 03 October.
Consultation Launched On Proposed Changes To Private Pensions Provisions
A consultation has been launched by the Pensions Authority addressing a package of proposals to reform and simplify supplementary private pensions provisions. The Authority is seeking submissions from all stakeholders and interested parties by the deadline of 03 October.
25 May 2016
New Pensions Ombudsman Appointed
A new Pensions Ombudsman has been appointed to replace Paul Kenny who has retired from the role after 13 years, Minister for Social Protection Leo Varadkar has announced.
New Pensions Ombudsman Appointed
A new Pensions Ombudsman has been appointed to replace Paul Kenny who has retired from the role after 13 years, Minister for Social Protection Leo Varadkar has announced.
29 June 2012
Central Bank Concerned By Ulster Bank Delays
The Central Bank of Ireland has said it is concerned by the "unacceptable continuing delays by Ulster Bank in fully resolving its systems issues and the consequent impact on its customers".
Central Bank Concerned By Ulster Bank Delays
The Central Bank of Ireland has said it is concerned by the "unacceptable continuing delays by Ulster Bank in fully resolving its systems issues and the consequent impact on its customers".
-
Ireland WeatherToday:A cloudy day with outbreaks of mainly light rain at times, although there may be the odd heavier burst. Driest in the south and east during the afternoon. Moderate southwesterly winds. Maximum temperature 11 °C.Tonight:Staying cloudy throughout the evening and overnight period with a little rain or drizzle at times. Mild overnight with light winds. Minimum temperature 7 °C.
