Bank officials 'outraged' by pension top-ups for senior executives
Issued : 17 May 2010
Irish Examiner
The Irish Bank Officials Association said today that ordinary bank workers are outraged that the State's two largest banks are continuing to give pension cash top-ups to senior executives.
According to newspaper reports today, executives benefiting from the top-ups include AIB's managing director and three senior directors at Bank of Ireland.
They are understood to have accumulated pension pots worth more than €5m, but are now opting to get their pension payments in "cash allowances" to avoid a punitive rate of tax.
