IFA executive member Sean Brosnan: We were shocked at Smith's €1.2m pension top-up

A member of the IFA's national executive has said they were shocked to find out that former general secretary Pat Smith received a €1.2m pension top-up.

A member of the IFA's national executive has said they were shocked to find out that former general secretary Pat Smith (pictured) received a €1.2m pension top-up.

The money was given to Smith when the Association's defined benefit scheme closed in 2011.

The figure represents 25% of the fund set up to compensate members for shortfalls.

The national executive survived a vote of no confidence last night after a report on pay and structures was presented to members yesterday.

One of the members, Sean Brosnan, said everyone was taken aback by the pension top-up.

"That was probably as big a shock to the rest of the staff as it was to (the executive)," he said. "(It was) a shocking figure."