BoI expected not to seek partial pension surrender

It is believed that Bank of Ireland will not be following AIB’s lead and writing to former executives asking them to surrender part of their pensions.

AIB is writing to 14 former executives who were with the bank between the years 2005 and 2008 and who have since left the institution. Bank of Ireland declined to comment on whether it would make a similar move. Former Bank of Ireland chief executive Brian Goggin is in receipt of a yearly €650k pension.

A spokesman for Permanent TSB said: “PTSB has no former director with a pension above €250,000 per annum and therefore is not in the same position as former directors of other banks.”