McCreevy’s €1.2m golden handshake

November 30, 2009 by Infowars Ireland

www.irishexaminer.com

CHARLIE McCREEVY will get a golden handshake package worth more than €1.2 million when his term as Ireland’s representative on the European Commission ends in the new year.

Mr McCreevy will get an EU Commissioner pension of €51,068 per year on top of his ministerial pension of €70,710 and pension as a Kildare North TD of €52,213. This will bring his total annual pension to over €173,000.

The outgoing Commissioner for Internal Markets is entitled to a step-down payment of €537,000 over the next three years to help him adjust to losing his generous salary.

He will also get a lump sum of just under €20,000 on leaving office in January as a “resettlement allowance” to help his move from Brussels back to Ireland.

Mr McCreevy will not have to pay tax on these payments in Ireland, but will have to pay a “community tax” which is paid directly back into the EU’s budget.

During his five-year term in Brussels, Mr McCreevy earned more than €1.4 million including an annual salary of €238,919 as well as a €35,837 “residence allowance” for staying in Brussels and a €7,248 annual entertainment allowance. During this time, he continued to earn his €71,000 annual ministerial pension, which was not reduced when ministers took a pay cut earlier this year. Read more…