Noonan will 'push public interest' over pension pay

The Finance Minister Michael Noonan says he will continue to push the public interest on levels of pay at the former Anglo Irish Bank.

It follows the revelation that six executives at IBRC are on pay packages worth more than €500,000 a year, and over 200 staff earn more than €100,000.

Minister Noonan says he wrote to the chairman of IBRC to speak to the board about a cut across pay levels.

It was discussed at board level, however they didn't think it was a good idea.

Minister Noonan has told the Oireachtas Finance Committee that they gave a number of reasons: “They were losing staff and it would be very difficult for them to hire.

“My position is that while they have the legal authority to set the pay-scales arising from the articles of agreement they entered into at the time the status of Anglo was changed during the previous government.

“There is a public interest as well and I will continue to push that.”

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