The Irish Times

Retention payments for NTMA staff

- ARTHUR BEESLEY Economics Editor

The National Treasury Management Agency has agreed to make retention payments totalling ¤210,000 to four key staff members over the next two years if they stay with the organisati­on until set dates in 2016 and 2017.

Under separate agreements, three staff on fixed-term contracts stand to receive a total of ¤196,250 on completion of their contracts if they do not join the NTMA on a permanent basis.

Such arrangemen­ts were disclosed by Minister for Finance Michael Noonan in a reply to parliament­ary question in which he said the NTMA has already paid a total of ¤199,200 this year in performanc­e-related and retention payments.

This sum, set out in a response this week to Fianna Fáil finance spokesman Michael McGrath, is ¤10,000 more than the Minister disclosed in a reply last week to Mr McGrath. “The NTMA has now advised me that they made an additional retention payment of ¤10,000 which they had erroneousl­y classified as a contract completion payment and was omitted from their response to [the previous question]\,” Mr Noonan said.

There was no change to data the Minister had provided for 2014, a year in which the NTMA paid ¤136,500 in performanc­e-related and retention pay.

“The relevant salary band in respect of the retention payments is ¤50,000 to ¤100,000 (one employee) and ¤150,000 to ¤200,000 (three employees, one of whom received a retention payment in 2014 and 2015),” he said. “In respect of the retention payments disclosed, a total of ¤210,000 potentiall­y remains to be paid if the employees in question remain in employment until specific dates in 2016 and 2017.”

Marketable skills

On contract-completion payments, Mr Noonan cited a response to a parliament­ary question in 2013 . “In a limited number of cases where the NTMA employs staff with very marketable skills (particular­ly in the area of IT) on fixed-term contracts as opposed to permanent contracts, contract completion payments were made upon the expiry of the fixed-term contract in question,” the Minister said.

“In 2014, a total of ¤53,208 was paid to 10 employees upon expiry of their fixed-term contracts while in 2015 a total of ¤81,956 was paid to 15 employees upon expiry of their fixed-term contracts,” he added. “There are three such contract completion arrangemen­ts outstandin­g and a total of ¤196,250 potentiall­y remains to be paid to the employees in question upon completion of their fixed-term contracts.”

210,000 The amount in euro the NTMA will pay four people if they stay working with it

Newspapers in English

Newspapers from Ireland