Taoiseach Brian Cowen has said the Government was unable to influence a decision on a pension bonus for Bank of Ireland's chief executive Richie Boucher because this contractual arrangement was agreed and put in place by Mr Boucher's pension fund operator.
Mr Cowen said the curtailment of salaries paid to bank executives was something the Government had put in place as part of the agreement on bank guarantees and this will be maintained.
He said he can understand the perception created by the additional payment to the Bank of Ireland chief executive, but added that the Government was unable to stop this.
Meanwhile, the Minister for Social Protection, Eamon O Cuív, has asked Richie Boucher to forgo the €1.5m top-up to his pension fund.
Minister Ó Cuív said that he can not understand how people like Richie Boucher do not voluntarily hand back some of what they have.
He said that Mr Boucher and people like him, who had made such a mess' of the banks and the economy, should also forgo future bonuses'.
He said Mr Boucher's pension clause was very unfortunate and was costing a lot of money. He added that the Government did not have the legal power to force him to hand it back.
