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NAMA workers pocket €7,700 each in bonuses

BONUSES averaging €7,700 each were paid to hundreds of staff in NAMA and the National Treasury Management Agency last year from a total bonus pot worth €2m.

About 14 people in these agencies are earning more than Taoiseach Enda Kenny with salaries above €250,000 a year compared to the Taoiseach's salary of €200,000.

A further three agency staff are paid between €200,000 to €250,000 and 27 are paid between €150,000 to €200,000.

The total amount paid in bonuses to staff at the NTMA last year was €1.98m, which represents 6.6pc of the NTMA's overall payroll.

Altogether 258 out of the 304 staff shared in the bonus bonanza with payments averaging €7,681 each.

Nine of the most senior executives at the NTMA waived their bonuses worth €905,000 for last year.

Fianna Fail TD Michael McGrath, who obtained the figures, said people would be angered by the bonus payments.

But Finance Minister Michael Noonan said both agencies had the "operational freedom" to negotiate competitive salaries so they could attract people from the private sector.


In a statement, the NTMA said no bonuses were paid to the nine most senior executives in NAMA and the NTMA last year.

Bonuses were paid to other employees on a reduced scale.

NTMA chief executive John Corrigan waived a bonus payment of nearly €250,000 on his basic salary of €490,000 last year and NAMA chief executive Brendan McDonagh waived a bonus of €200,000 on his salary of €430,000.

The spokesman pointed out that the agency had reduced payroll by 11pc since 2009.

He said the agency was "acutely aware" of the financial challenge facing the State.

The average salary for the 350 employees at the NTMA and NAMA is almost €100,000.

Meanwhile Eirgrid has become the latest semi-State body to confirm that it will not be paying a bonus to its chief executive this year.