NTMA to cut pay in line with Croke Park deal

Staff at the National Treasury Management Agency (NTMA) and its various branches including the National Asset Management Agency (Nama) are to face pay cuts along the lines of those set out in the proposed new Croke Park agreement.

The Department of Finance confirmed last night that Minister for Finance Michael Noonan told the chief executive of the NTMA last week its personnel should expect to be included in the proposed pay cuts.

Staff in the NTMA and Nama were not covered by the original Croke Park deal.

The proposed new agreement provides for pay cuts on a sliding scale for all those earning more than €65,000.

The pay cuts range from 5.5 per cent on the first €80,000 to 8 per cent for amounts between €80,000 and €150,000, 9 per cent for amounts between €150,000 and €185,000, and 10 per cent on amounts of more than €185,000.

Official figures that emerged late last year indicated one NTMA employee was earning between €400,000 and €500,000; another 14 received between €200,000 and €400,000; and 152 of the 500 personnel were earning €100,000 or more.

The data showed all 15 NTMA staff earning more than €200,000 a year had agreed to the Government’s December 2011 request to waive 15 per cent of salary.

Asked whether the pay cuts under Croke Park would apply in banks in which the State has a significant shareholding, Government sources said a report on remuneration in the banking sector would be going to the Cabinet shortly.

Separately yesterday, the union representing about 18,000 teachers in second-level schools, ASTI, said it would urge its members to reject the proposed new Croke Park deal.

However, the union representing medical scientists in the public health service said it would be recommending its members vote in favour of the proposed agreement.

In another development four trade unions that walked out of the talks on a new Croke Park deal launched a nationwide campaign aimed at highlighting opposition to the accord.

The Irish Nurses’ and Midwives’ Organisation (INMO), the Civil Public and Services Union, Unite and the Irish Medical Organisation are to hold a series of information meetings around the State for public servants.

Unite regional secretary Jimmy Kelly said they would be appealing to union members who thought the deal was not as bad as expected from their own perspective not to vote for an agreement that would cut other workers’ pay.

The four unions also indicated the trade union movement would be in uncharted water if the public service committee of the Irish Congress of Trade Unions ratified the proposals on foot of majority votes in larger unions in circumstances where a considerable number of other unions had rejected the deal.

Some of the unions suggested they had to ballot members a second time to decide on a strategy in such a scenario.

INMO general secretary Liam Doran said: “It cannot be ceded to other unions to impose a pay cut on any other union and I think that is going to be accepted by other unions.”