AIB asks former directors to consider voluntary pension cuts

AIB is asking it's former directors to consider taking a voluntary cut to their pensions.

It emerged last week that some former bankers who presided over financial institutions at the height of the boom were drawing pensions of up to half a million euro.

AIB has said that it cannot force such former staff to forego some of their pension pot, but it's asking them to consider doing so voluntarily.

It is understood upward of 15 letters have been sent to former directors including Eugene Sheehy and Colm Doherty.