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 Post subject: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 4:17 pm 
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Quote:
Ministers only have to serve 10 years in the Cabinet to achieve pensions worth up to €6.9m.

Director of Independent Trustee Company Tommy Nielsen said: "Presently, a minister who has served 10 years is entitled to a pension of 60pc of his salary, which is applicable even if that minister were to retire from his position at 50 years of age."

He explained that for a private-sector worker to deliver such a pension, they would need to build up a pension fund of €6,870,504.

"This would require pension contributions of €35,149 every month. This figure is effectively what it costs us, the taxpayer, to fund these ministerial pensions -- on top of a minister's salary, which is just under €200,000, and their expenses."

No contributions are made by Oireachtas members to their pensions other than the pensions levy.

Mr Nielsen said that if the pensions benefit provided by the State to ministers was treated as a benefit in kind, the income tax and levies would exceed €16,000 a month. This is greater than a minister's gross monthly income of €15,917.

http://www.independent.ie/business/irish/cutting-pension-tax-reliefs-would-hit-ministers-hard-2406910.html


because they're worth it ....... :sick:


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 4:34 pm 
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This is the one thng that I would gladly take to the streets about. I don't believe this is highligted enough in the media. This has to stop and if it takes the IMF to stop it I'll welcome them.


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 5:37 pm 
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[mod edit: leave the rants for the other thread]


Last edited by yoganmahew on Thu Nov 04, 2010 5:42 pm, edited 1 time in total.
edited for ranty-mc-rant-pants


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 5:44 pm 
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[mod edit: discussion of moderation is off topic]


Last edited by yoganmahew on Thu Nov 04, 2010 6:06 pm, edited 1 time in total.
edited


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 5:45 pm 
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Neo Landlord

Joined: Mar 29, 2010
Posts: 204
[mod edit: and you can feck right off to the slurry pit you crawled out of too]


Last edited by yoganmahew on Thu Nov 04, 2010 6:07 pm, edited 1 time in total.
edited


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 5:52 pm 
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Real Estate Developer

Joined: Nov 7, 2006
Posts: 856
so an Irish minister is on a pay and pension package of close to a million a year while in cabinet! This takes the bicuit. i tought i couldnt be more annoyed. I have to stop reading message boards like my shrink advised. is that why the pay cuts didnt affect pensions ? I feel like going back on the gargle after 2months dry.


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Thu Nov 04, 2010 10:18 pm 
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Back Home with Mammy

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Posts: 71
8DD Any chance that one of these shoe pissers will come on the airwaves and explain this obscene largesse. Remember this applies to senior cs types as well as ministerial and senior cs salary levels are linked.
(And none of "It must be viewed in the context of the years of service, and the remuneration they would have received in the private sector")
:evil:


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Fri Nov 05, 2010 12:17 am 
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Could whoever is in control of the media please highlight this.

Thanks.


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Fri Nov 05, 2010 12:24 am 
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Clever stuff from the ITC guy - he makes his money from setting up occupational schemes and pension wrappers. If tax relief was lost on this, his business would suffer hugely

He's right, of course - taxing employer's contributions to private pension scheme while ignoring the unfunded "pay-as-you-go" civil service schemes would be politically untenable


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Fri Nov 05, 2010 12:31 am 
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Back Home with Mammy

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Posts: 71
robert wrote:
Clever stuff from the ITC guy - he makes his money from setting up occupational schemes and pension wrappers. If tax relief was lost on this, his business would suffer hugely

He's right, of course - taxing employer's contributions to private pension scheme while ignoring the unfunded "pay-as-you-go" civil service schemes would be politically untenable


A shot across the bow's ?
Or illuminating an obscene and unjustified perk?


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Fri Nov 05, 2010 1:56 am 
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A shot across the bows, I believe.

In other words, "you can't take this tax relief away from the private sector only, therefore you can't take this tax relief away".

It would be Haughey asking us to wear a hairshirt while his were handmade Charvet all over again ...

If you think we've had a public sector v private sector divide up to now, watch what happens if private sector employer pension contributions become taxable and there is no corresponding charge on the public sector.


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Mon Feb 28, 2011 7:01 pm 
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Too Big to Fail

Joined: Aug 8, 2008
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Location: Cathair na dTreabh
Loads of TD & minister disappointment money and pension payments to be made soon. I'm sure it will be in the media during the week how much they are all getting. I found out today that John O'Donoghue is getting around €108,00 per year and he's only 54! Here's some more from an article earlier this month http://www.tribune.ie/article/2011/jan/ ... o-not-run/

Bertie Ahern, 34 years' service, €388,855 lump sum; €155,892 pension
Dermot Ahern, 24 years' service, €328,469 lump sum; €111,120 pension
Noel Ahern, 19 years' service, €268,403 lump sum; €73,008 pension
Bernard Allen, 30 years' service, €273,941 lump sum; €64,586 pension
Sean Ardagh, 14 years' service, €186,219 lump sum; €38,702 pension
Ulick Burke, 9 years' service, €186,219 lump sum; €33,947 pension
Paul Connaughton, 30 years' service, €263,432 lump sum; €66,119 pension
Seymour Crawford, 19 years' service, €222,508 lump sum; €46,070 pension
Noel Dempsey, 24 years' service, €328,469 lump sum; €111,120 pension
Jimmy Devins, 9 years' service, €58,800 lump sum; €21,573 pension
Olwyn Enright, 9 years' service, €129,800 lump sum; €22,542 pension
Michael Finneran, 9 years' service, €283,429 lump sum; €48,504 pension
Beverley Flynn, 14 years' service, €186,219 lump sum; €33,947 pension
Mary Harney, 30 years' service, €343,087 lump sum; €118,837 pension
Jackie Healy-Rae, 24 years' service, €186,219 lump sum; €33,947 pension
Michael D Higgins, 25 years' service, €328,478 lump sum; €80,876 pension
Tony Killeen, 19 years' service, €276,163 lump sum; €68,984 pension
Tom Kitt, 24 years' service, €283,429 lump sum; €77,743 pension
Padraic McCormack, 22 years' service, €229,863 lump sum; €48,495 pension
Liz McManus, 19 years' service, €280,618 lump sum; €59,523 pension
Arthur Morgan, 9 years' service, €129,800 lump sum; €22,542 pension
MJ Nolan, 24 years' service, €229,855 lump sum; €48,492 pension
Rory O'Hanlon, 34 years' service, €328,469 lump sum; €111,119 pension
Batt O'Keeffe, 21 years' service, €328,469 lump sum; €94,366 pension
Jim O'Keeffe, 34 years' service, €263,438 lump sum; €68,639 pension
Ned O'Keeffe, 29 years' service, €263,429 lump sum; €63,600 pension
Brian O'Shea, 22 years' service, €263,438 lump sum; €63,603 pension
PJ Sheehan, 25 years' service, €229,864 lump sum; €49,345 pension
Noel Treacy, 29 years' service, €263,429 lump sum; €77,743 pension
Mary Upton, 11 years' service, €151,072 lump sum; €26,672 pension
Mary Wallace, 21 years' service, €263,429 lump sum; €72,868 pension
Michael Woods, 34 years' service, €328,469 lump sum; €111,120 pension

TOTAL €8,075,781 (lump sum payments) €2,125,644 (pensions per annum)

_________________
'Sitting on the sidelines, cribbing & moaning is a lost opportunity. I don't know how people who engage in that don't commit suicide because frankly the only thing that motivates me is being able to actively change something,' - Bertie Ahern 04/07/07


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Mon Feb 28, 2011 7:20 pm 
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Posts: 1827
€8m divided by 32 = 250k avg each.

Add these folks.
http://www.rte.ie/news/election2011/results/index.html

43 Sitting TDs not re elected.
x 250k avg = €10,750k.

Total €18.75m to get rid of a government.


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Mon Feb 28, 2011 7:24 pm 
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Location: Cathair na dTreabh
That's just the lump sum payments..what about their annual pensions which they will get for the rest of their lives once they reach 50? :-x :-x


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 Post subject: Re: Irish Ministers - pension soup
PostPosted: Mon Feb 28, 2011 11:27 pm 
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Joined: Jan 6, 2011
Posts: 118
temene wrote:

Bertie Ahern, 34 years' service, €388,855 lump sum; €155,892 pension
Dermot Ahern, 24 years' service, €328,469 lump sum; €111,120 pension
Noel Ahern, 19 years' service, €268,403 lump sum; €73,008 pension
Bernard Allen, 30 years' service, €273,941 lump sum; €64,586 pension
Sean Ardagh, 14 years' service, €186,219 lump sum; €38,702 pension
Ulick Burke, 9 years' service, €186,219 lump sum; €33,947 pension
Paul Connaughton, 30 years' service, €263,432 lump sum; €66,119 pension
Seymour Crawford, 19 years' service, €222,508 lump sum; €46,070 pension
Noel Dempsey, 24 years' service, €328,469 lump sum; €111,120 pension
Jimmy Devins, 9 years' service, €58,800 lump sum; €21,573 pension
Olwyn Enright, 9 years' service, €129,800 lump sum; €22,542 pension
Michael Finneran, 9 years' service, €283,429 lump sum; €48,504 pension
Beverley Flynn, 14 years' service, €186,219 lump sum; €33,947 pension
Mary Harney, 30 years' service, €343,087 lump sum; €118,837 pension
Jackie Healy-Rae, 24 years' service, €186,219 lump sum; €33,947 pension
Michael D Higgins, 25 years' service, €328,478 lump sum; €80,876 pension
Tony Killeen, 19 years' service, €276,163 lump sum; €68,984 pension
Tom Kitt, 24 years' service, €283,429 lump sum; €77,743 pension
Padraic McCormack, 22 years' service, €229,863 lump sum; €48,495 pension
Liz McManus, 19 years' service, €280,618 lump sum; €59,523 pension
Arthur Morgan, 9 years' service, €129,800 lump sum; €22,542 pension
MJ Nolan, 24 years' service, €229,855 lump sum; €48,492 pension
Rory O'Hanlon, 34 years' service, €328,469 lump sum; €111,119 pension
Batt O'Keeffe, 21 years' service, €328,469 lump sum; €94,366 pension
Jim O'Keeffe, 34 years' service, €263,438 lump sum; €68,639 pension
Ned O'Keeffe, 29 years' service, €263,429 lump sum; €63,600 pension
Brian O'Shea, 22 years' service, €263,438 lump sum; €63,603 pension
PJ Sheehan, 25 years' service, €229,864 lump sum; €49,345 pension
Noel Treacy, 29 years' service, €263,429 lump sum; €77,743 pension
Mary Upton, 11 years' service, €151,072 lump sum; €26,672 pension
Mary Wallace, 21 years' service, €263,429 lump sum; €72,868 pension
Michael Woods, 34 years' service, €328,469 lump sum; €111,120 pension

TOTAL €8,075,781 (lump sum payments) €2,125,644 (pensions per annum)


Jesus. Just reading those number made me sick to my stomach. It is disgusting. :sick: :sick: :sick:


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