Former Dublin Gas chief executive’s pension
Reynolds asked about the former chief executive’s service and pension; Spring said the company funded it and estimated contributions at £442,683, but was unsure whether he resigned or retired and undertook to check.
asked the Minister for Energy (1) the date on which the former chief executive joined the Dublin Gas Company; (2) the date on which he left; (3) if he resigned or retired early; and (4) if his pension for life of £35,000 per annum was funded entirely by Dublin Gas or partially by his former employer, and the total cost to the Gas Company of his pension benefits.
Comment on this
The former chief executive joined Dublin Gas Company on 1 July 1977. He left the company on 22 April 1986. He was under no obligation to remain with the company after that date. The pension was funded entirely by the company. The actual money put into the pension fund over the years was £442,683, the value of which increased with the passing of time. Any surplus funds left over after discharge of the pension entitlement will revert to the company.
Comment on this
Did the former chief executive resign or retire? That is a very fundamental question.
Comment on this
I am of the opinion, although the briefing does not specify it, that he resigned from the company.
Comment on this
I have not got the chief executive's statement at the time but I am sure I will have no problem in getting the information for the Deputy.
Comment on this
I accept what the Minister said and I am certain that he resigned. In view of the fact that he resigned, saying that he did not automatically resign, what type of back door——