248. Deputy Colm Keaveney asked the Minister for Finance if he intends to take the Mercer Report into the banking sector at face value or if he will reconsider its disregarding of performance-related pay as non-core pay because treating this element of pay, essentially by which a portion of an employee's salary was at risk unless certain targets were met, as being a discretionary bonus is disingenuous; if he recognises that there is a danger of lower paid bank workers being regressively affected by pay cuts while senior executives continue to enjoy salaries and bonuses far beyond the reach of ordinary workers and where former senior executives have escaped with golden handshakes and grossly large pensions; if so, the way he intends to adequately address this disparity; if he intends pursuing a course of action to encourage or compel banks to enforce further cuts on modestly paid bank employees; and if he will make a statement on the matter. [16352/13]

Summary

248. Deputy Colm Keaveney asked the Minister for Finance if he intends to take the Mercer Report into the banking sector at face value or if he will reconsider its disregarding of performance-related pay as non-core pay because treating this element of pay, essentially by which a portion of an employee's salary was at risk unless certain targets were met, as being a discretionary bonus is disingenuous; if he recognises that there is a danger of lower paid bank workers being regressively affected by pay cuts while senior executives continue to enjoy salaries and bonuses far beyond the reach of ordinary workers and where former senior executives have escaped with golden handshakes and grossly large pensions; if so, the way he intends to adequately address this disparity; if he intends pursuing a course of action to encourage or compel banks to enforce further cuts on modestly paid bank employees; and if he will make a statement on the matter. [16352/13]

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Timeline

1. 16 April 2013

   Banking Sector Remuneration

   248. Deputy Colm Keaveney asked the Minister for Finance if he intends to take the Mercer Report into the banking sector at face value or if he will reconsider its disregarding of performance-related pay as non-core pay because treating this element of pay, essentially by which a portion of an employee's salary was at risk unless certain targets were met, as being a discretionary bonus is disingenuous; if he recognises that there is a danger of lower paid bank workers being regressively affected by pay cuts while senior executives continue to enjoy salaries and bonuses far beyond the reach of ordinary workers and where former senior executives have escaped with golden handshakes and grossly large pensions; if so, the way he intends to adequately address this disparity; if he intends pursuing a course of action to encourage or compel banks to enforce further cuts on modestly paid bank employees; and if he will make a statement on the matter. [16352/13]

   Source: written

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• Banking Sector Remuneration

  xml · EN · 16 April 2013

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Sponsors

• Keaveney, Colm. · Asking member
• Finance · Finance · Addressed to

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