Nama offers ‘gold-plated’ pensions to attract staff

[grumpy]

NAMA is offering a “gold-plated” pension scheme for some of its executives as it seeks to attract new staff.

“All Nama staff are employees of the National Treasury Management Agency (NTMA).

New joiners to the NTMA become members of the NTMA defined benefit scheme which is based on career-averagearnings with benefits payable from the age of 65,” according to a spokeswoman.

The introduction of this gold-plated pension scheme comes as companies around the country wrestle with vast pension scheme deficits and seek to reduce employee perks by slashing defined benefits pensions schemes.

Nama is set to spend up to €2.3bn on consultants, advisers and fees over the next decade.

Salary levels in Nama and its sister agency the NTMA are “confidential”, finance minister Brian Lenihan told the Dail recently.

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