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Thread: Suckers happy to pay for bankers pensions!

  1. #1
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    Default Suckers happy to pay for bankers pensions!

    Almost 3,000 bank staff earn over

    It appears that over 3000 staff in the bailed-out banks earn more than €100k.
    Many earn between €60 and €100k.

    It seems many commentators and politicians have criticised the pension payouts to senior bankers only but seem
    to ignore the elephant in the room which is that the DB pension schemes in the two main banks have been bailed out by the taxpayer. Staff in these schemes had been contibuting 0-3% to retire on 2/3rds final salary and are now asked to pay a paltry 5.5%.
    The sucker taxpayers have to make up the rest! Home help hours for elderly are being cut so that bank staff in DB scheme can retire at 2/3rds final salary funded by the taxpayer

    Why has no politician been able to move beyond the 'senior banker elite' when it comes to taxpayer funding of bank pensions?
    Yesterday, Sinn Féin published legislation seeking to impose a 99% charge on pension payments in excess of €100,000 per year for all bank officials who retired from the covered institutions after the introduction of the banking guarantee of 2008.

    What sort of an idea is that? So, according to SF a taxpayer funded pension of €100k is ok, but a penny more is not ok?


    The state (taxpayer) has no role in the private pension arrangements of ANY bank staff-managers or ordinary staff.
    The state should must insist that all money from taxpayer put into pension funds is repaid.
    This could be collected as a 10% solidarity levy on all DB scheme members in bailed out banks.

    The DB staff were not paying enough. Their employers went bust ( or were prevented from so doing by the taxpayer).
    The taxpayer has no role in paying for their generous DB schemes.
    If they want to retire on 2/3rds of very high salary then they must pay for this themselves.

    Why did Waterford Crystal workers not get bailed out?

    /MOD/ This thread merged here: http://www.politics.ie/forum/current...over-100k.html /MOD/
    Last edited by Sync; 30th November 2012 at 07:21 PM.

  2. #2
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    More proof that 'Ireland' is again nothing more than a dominion, only this time its financial and its the EU rather than Britain.

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    Politics.ie Member tigerben's Avatar
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    The bankers need the money for the FF and FG fundraisers they attend , if pensions and pay are cut, how can they contribute? Political parties need friends with deep pockets, how else can they fund the lies, and pay for billboards to enforce the lie???

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    Politics.ie Member ticketyboo's Avatar
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    Quote Originally Posted by birthday View Post
    Almost 3,000 bank staff earn over

    It appears that over 3000 staff in the bailed-out banks earn more than €100k.
    Many earn between €60 and €100k.

    It seems many commentators and politicians have criticised the pension payouts to senior bankers only but seem
    to ignore the elephant in the room which is that the DB pension schemes in the two main banks have been bailed out by the taxpayer. Staff in these schemes had been contibuting 0-3% to retire on 2/3rds final salary and are now asked to pay a paltry 5.5%.
    The sucker taxpayers have to make up the rest! Home help hours for elderly are being cut so that bank staff in DB scheme can retire at 2/3rds final salary funded by the taxpayer

    Why has no politician been able to move beyond the 'senior banker elite' when it comes to taxpayer funding of bank pensions?
    Yesterday, Sinn Féin published legislation seeking to impose a 99% charge on pension payments in excess of €100,000 per year for all bank officials who retired from the covered institutions after the introduction of the banking guarantee of 2008.

    What sort of an idea is that? So, according to SF a taxpayer funded pension of €100k is ok, but a penny more is not ok?


    The state (taxpayer) has no role in the private pension arrangements of ANY bank staff-managers or ordinary staff.
    The state should must insist that all money from taxpayer put into pension funds is repaid.
    This could be collected as a 10% solidarity levy on all DB scheme members in bailed out banks.

    The DB staff were not paying enough. Their employers went bust ( or were prevented from so doing by the taxpayer).
    The taxpayer has no role in paying for their generous DB schemes.
    If they want to retire on 2/3rds of very high salary then they must pay for this themselves.

    Why did Waterford Crystal workers not get bailed out?
    No argument with that, birthday.
    All I can say in SF's defence is that alone of the political parties, SF's pre-budget proposals for a couple of years at least has been to tackle the myriad of tax reliefs which benefit disproportionately the better off.

  5. #5
    Politics.ie Member hammer's Avatar
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    Scandalous.

    As a matter of interest how many public servants / employees of State Companys earn more than €100,000 also.

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    Politics.ie Member Furze's Avatar
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    Quote Originally Posted by birthday View Post
    Almost 3,000 bank staff earn over

    It appears that over 3000 staff in the bailed-out banks earn more than €100k.
    Many earn between €60 and €100k.

    It seems many commentators and politicians have criticised the pension payouts to senior bankers only but seem
    to ignore the elephant in the room which is that the DB pension schemes in the two main banks have been bailed out by the taxpayer. Staff in these schemes had been contibuting 0-3% to retire on 2/3rds final salary and are now asked to pay a paltry 5.5%.
    The sucker taxpayers have to make up the rest! Home help hours for elderly are being cut so that bank staff in DB scheme can retire at 2/3rds final salary funded by the taxpayer

    Why has no politician been able to move beyond the 'senior banker elite' when it comes to taxpayer funding of bank pensions?
    Yesterday, Sinn Féin published legislation seeking to impose a 99% charge on pension payments in excess of €100,000 per year for all bank officials who retired from the covered institutions after the introduction of the banking guarantee of 2008.

    What sort of an idea is that? So, according to SF a taxpayer funded pension of €100k is ok, but a penny more is not ok?


    The state (taxpayer) has no role in the private pension arrangements of ANY bank staff-managers or ordinary staff.
    The state should must insist that all money from taxpayer put into pension funds is repaid.
    This could be collected as a 10% solidarity levy on all DB scheme members in bailed out banks.

    The DB staff were not paying enough. Their employers went bust ( or were prevented from so doing by the taxpayer).
    The taxpayer has no role in paying for their generous DB schemes.
    If they want to retire on 2/3rds of very high salary then they must pay for this themselves.

    Why did Waterford Crystal workers not get bailed out?
    Is the legislation not Fianna Fail sponsored ?

    http://www.politics.ie/forum/economy...int.html?pp=40
    Mammy, get the hammer there's a fly on daddy's head.

  7. #7
    birthday
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    Quote Originally Posted by Furze View Post
    Is the legislation not Fianna Fail sponsored ?

    http://www.politics.ie/forum/economy...int.html?pp=40
    Why just senior bankers?
    Why not ask ALL DB scheme staff in bailed out banks to pay for their own pension.
    Pension schemes of BOI and AIB were both under water to the tune of over €1 billion each in 2009.
    What role has the taxpayer in this?
    Why are home help hours for the elderly being cut to fund ANY pension in the bank?
    The DB staff have never contributed properly and still do not make a realistic pension contribution to their OWN pensions?

    Public servants get at most 50% of final salary and now must contribute 15%.

    Bank staff in DB scheme get 66% and contribute 5.5%

    Go figure!
    Are public servants idiots? Are private sector workers outside banks idiots to pay for this?

  8. #8
    Politics.ie Member tigerben's Avatar
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    Quote Originally Posted by hammer View Post
    Scandalous.

    As a matter of interest how many public servants / employees of State Companys earn more than €100,000 also.

    Reading the newspapers everyone it seems, listening to union reps only a handful !

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    Politics.ie Member Ulster-Lad's Avatar
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    I suppose we are borrowing money for this as well or cutting something else??

    Ireland will invest over E17 million a year in European Space programmes in the coming years, the Minister for Research and Innovation, Sean Sherlock told the European Space Agency Ministerial Council in Naples today.
    BUSINESS WORLD - Ireland to invest E17m a year in space
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

  10. #10
    Politics.ie Member Howya's Avatar
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    Quote Originally Posted by hammer View Post
    Scandalous.

    As a matter of interest how many public servants / employees of State Companys earn more than €100,000 also.
    Indeed - and the taxpayer will be funding the db pensions for that group as well.
    “Still paying, still to owe. Eternal woe! ” ― Paradise Lost, John Milton

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