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/