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Thread: IMO chief gets 9.7 million in pension, down from 20 million

  1. #1
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    Default IMO chief gets 9.7 million in pension, down from 20 million

    http://www.thejournal.ie/imo-chief-e...27215-Dec2012/

    In an email to its more than 5,000 members IMO President Dr Paul McKeown says that it had no choice but to pay a total remuneration package of €9.7 million to George McNeice who will retire in March.

    The IMO’s management committee, through negotiations with McNeice’s representatives in recent weeks, managed to secure 50 per cent reduction to this figure with McNeice now departing the IMO next year with an overall settlement of €9.7 million, according to the email.

    This includes a pension fund of €4.5 million, a contractual termination payment of €1.5 million and delayed pension payments of €3.75 million, which will cost €2.6 million in today’s values.


    Even the elites are eating themselves up
    we have turned into some money hungry dogs in this country
    we really need to take a hard look at ourselves and our values

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    Bizarre stuff.

    He was entitled to a pension of 20m for representing an organisation with 5000 members. So that's 4k per member.

    Nice work if you can get it.

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    Politics.ie Member Dame_Enda's Avatar
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    Croke Park Agreement.
    Real News.

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    Politics.ie Member dizillusioned's Avatar
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    9.7 million?? Now forgive me.. the IMO is a body in charge of professionals 5000?? How in all honesty this guy could ever justify his existance for this sort of severence package??? 30 years of being paid for a job, and to get 9.7million? No wonder this country is shagged.

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    Politics.ie Member Josip Broz's Avatar
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    Quote Originally Posted by Dame_Enda View Post
    Croke Park Agreement.
    Nothing to do with it. He was CEO of an association representing rich doctors, public and private, and negotiated the terms of his contract directly with them.

    You really should know a little about a subject before commenting. Otherwise you just come across as a spotty Trinity undergrad with a knee jerk hatred of public servants rather than someone with a functional thought process and fully formed opinions.
    Se vogliamo che tutto rimanga com' bisogna che tutto cambi.

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    Does this cost the taxpayer anything?

    If yes please state how much, If not why should we care.....

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    Quote Originally Posted by Josip Broz View Post
    Nothing to do with it. He was CEO of an association representing rich doctors, public and private, and negotiated the terms of his contract directly with them.

    You really should know a little about a subject before commenting. Otherwise you just come across as a spotty Trinity undergrad with a knee jerk hatred of public servants rather than someone with a functional thought process and fully formed opinions.

    I wonder who was the president of the IMO who negotiated this?

    No wonder NCHDs pay more in subs than consultants in the IHCA.

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    Quote Originally Posted by bob3367 View Post
    Does this cost the taxpayer anything?

    If yes please state how much, If not why should we care.....
    Exactly. If this is an internal thing between quacks, so be it. The fact that they're grossly overpaid is a different argument.

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    Politics.ie Member firefly123's Avatar
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    Quote Originally Posted by Dame_Enda View Post
    Croke Park Agreement.
    Life is hard
    That's why no-one survives

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    birthday
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    Quote Originally Posted by bob3367 View Post
    Does this cost the taxpayer anything?

    If yes please state how much, If not why should we care.....
    Is that the only consideration?

    Anyway the answer is probably yes on several counts.

    Firstly the membership fees are likely to be high to reflect this very significant package. If you are a patient you will pay
    for this directly

    Secondly, I do not know if these fees are tax deductible, but if they are then the taxpayer is subsidising this.

    Thirdly, the fact that a professional lobby group pays this amount tells us how much they value the lobbying aspect of the organisation and how this is likely to impact on the deals that the taxpayer gets in negotiating with such powerful vested interest groups. I understand that the IMO negotiated a deal for the over 70s medical card that was very bad for the taxpayer.

    The fact that vested interest groups are happy to pay out such sums to their professional lobbyists tells us how much they value the lobbyist and how much they are earning to even consider such deals. Given that so much of the income of doctors comes from the state it is clear that the members of the IMO are sufficently well paid from state coffers to be able to provide such eye-popping deals for their representatives.


    On a wider basis it does show how detached many of our professional elites have become.
    Put it another way do you think that his German equivalent will be retiring on such packages.
    Our society is divided and it is becoming increasingly clear that sickening greed and a state of delusion and lack of basic human deceny pervades many of those who occupy senior positions in politics, business, professions.

    In conclusion, I think this story is important. I notice that the Irish Medical Times makes no mention of the ahem, package on offer!

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