Credit Institutions (Stabilisation) (Amendment) Bill 2013

Public bill · Private Member · Introduced

The bill would cut pension payments from certain State-backed credit institutions for current and former employees where the annual pension is over €100,000. It sets sliding reductions of 20%, 30% or 40% depending on the pension level, and says these cuts would apply even if they clash with pension schemes, contracts or other agreements. It was introduced to help protect the stability of the banking system and to reflect the public support given to those institutions.

Formal long title

Bill entitled an Act to make provision for the reduction of pensions payable by credit institutions covered by the Credit Institutions (Financial Support) Act 2008 to certain employees of those credit institutions

Last updated 19 February 2020