€318k windfall as Ahern bails out of Dáil

JUSTICE Minister Dermot Ahern will be paid a windfall of €318,000 in the first year after retirement following his decision to step down at next year’s general election.

When he retires as minister and TD for Louth early in the new year, the 55-year-old will be paid an initial tax-free golden parachute of €177,636 as well as a pension of €140,861 in the first year. This will be followed by an annual pension worth €128,291 for the rest of his life.

Mr Ahern’s pension will be worth significantly more than what he would potentially earn as an opposition TD in the next Dáil — something that could encourage a number of other long-standing FF ministers to make similar decisions.