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Financial bodies' bonus details revealed

Minister of State - Brian Hayes
Minister of State - Brian Hayes

Some staff at the National Treasury Management Agency' received bonus payments last year.

But chief executives in three financial State bodies, including the National Treasury Management Agency and NAMA, waived their bonus payments with a potential value of almost €900,000.

The Minister of State at the Department of Finance Brian Hayes has said he finds it worrying that bonuses are still being paid.

However, Brian Hayes has said that he welcomed the move by senior management not to take the bonuses,

An NTMA spokesman said that the current chief executives of the NTMA and NAMA waived their bonuses last year.

The chief executive of NTMA, John Corrigan could have received a bonus of up to 80% of his salary worth up to €392,000.

John Corrigan's basic salary is €490,000.

Chief Executive of NAMA Brendan McDonagh had waived a bonus payment worth up to 60% of his salary which could have been worth up to €258,000.

Brendan McDonagh's basic salary is €430,000.

While the chief executive of National Development Finance Agency Brian Murphy decided not to take a bonus payment of up to 60% of his salary worth a maximum of €198,000.

Brian Murphy's salary last year was €330,000.

Last year it emerged that former chief executive of the NTMA Michael Somers was paid just over €1m in 2008, of which €403,000 was a performance related bonus.

The Government had previously requested that those in state bodies suspend bonus payments.

NTMA was set up outside civil service pay rates and negotiates contracts on an individual basis.