IL&P chief salary takes €206,000 hit in 12 months

IRISH Life & Permanent (IL&P) cut its chief executive’s pay last year — in line with Government guidelines for banking bosses’ pay — according to its latest annual report.

Kevin Murphy, was paid the maximum allowable basic salary, of €500,000, last year — slightly down from a salary of €515,000 in 2009.

His overall remuneration package, for 2010, amounted to €538,000, after other payments (including benefit in kind and compensation for loss of pension) were taken into consideration.