Two State banks pay over €150,000 to 57 individuals


A total of 57 employees of two State-owned financial institutions, Irish Life, and Permanent TSB, earn basic annual salaries in excess of €150,000, Minister for Finance Michael Noonan has disclosed.

In a response to a Dáil question from Sinn Féin finance spokesman Pearse Doherty, Mr Noonan said some 38 employees of Irish Life receive annual salaries in excess of €150,000, with two earning more than €400,000. It was also disclosed that some 19 employees of Permanent TSB earn more than €150,000 per annum. The bank's recently appointed chief executive Jeremy Masding earns a basic salary of €400,000, while nine employees earn annual salaries of between €200,000 and €399,000.

Further €60,000

Mr Masding also gets a further €60,000 paid towards his pension scheme. He was also in receipt of vouched expenses of €52,034 to compensate for costs incurred in relocating to Ireland earlier this year.

The chief executive of Irish Life, Kevin Murphy, received a salary last year of €500,000 and “other remuneration” of €86,000. Mr Doherty said last night that Mr Murphy's pay package breached the Government's own pay cap of €500,000 and added that his question had elicited the information that Mr Murphy, who is 62, will retire on an annual pension of €305,000.

Mr Doherty described the payment levels as obscene.


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“The moneychangers and the usurers shall cry out in despair of their trade, and will offer you and the Lamb ransom to change your course. Turn your back upon them, for they know only evil; and misery is their trade among men. And they know what evil they do: for they lust after the fruits of gold, and do no labour. They grow not, yet they reap; and sow only the seeds of slavery for their own gain; and harden their hearts as does the common harlot, against all things that are right among men.”

For those with ears to hear

Way thought for the day 17th November 2012 – For as we have many members in one body

For I say to every man that is among you, not to think of himself more highly than he ought to think, but to think soberly, according as the Brethren hath dealt to every man the measure of knowledge that he requires in order that he mightest live. For as we have many members in one body, and all members have not the same mind nor the same ways and abilities, so we, being many, are one body in The Way, and every one members one of another.

Let love be without dissimulation. Abhor that which is evil. Cleave to that which is good. Be kindly-affectioned one to another with brotherly love, in honour preferring one another; not slothful in business; fervent in spirit, serving the Lords of the brotherhood of the Nazarenes. Be thou rejoicing in hope, patient in tribulation, distributing hospitality.

Protect thyselves against those who persecute you. Condemn not easily, for all are deserved of the right to put right that which they have done wrongly. Forgive not easily lest bad practice shall be encouraged. Rejoice with them that rejoice, and weep not with them that weep, for it shall be of no assistance onto them. Better that thou assist in goodly and useful manner.

Be of the same mind one toward another: and where there is difference, converse, and learn one from the other until both see the light. Mind not high things, but condescend to men of low estate, and raise them up. Be not wise in your own conceits: in such manner is a man destroyed.

Extract from The Hallowed Book of Man

(Chapter: In that Long-off Time)

Way thought for the day – 16th November 2012 – For whosoever shall do the will of that which is good

While he yet talked to the people, behold, his mother and his brethren stood without, desiring to speak with him. Then one said unto him, “Behold, thy mother and thy brethren stand without, desiring to speak with thee.”

But he answered and said unto him that told him, “Who is my mother? Was she not but as a whore of the temples of the virgins, and sold herself as a common prostitute? And who are my brethren, for they know not their fathers, and seek me out only for their own gain? Except for James, who abides with me and within me forever, for he shows only love; and love is a greater gift given for its own sake, and not for reward.”

And he stretched forth his hand toward the Nazarenes there present,•his heart was full and his eyes were full of tears,•and said, “Behold my mother and my brethren! For whosoever shall do the will of that which is good, the same is my brother, and sister and mother. We Brothers need no other brothers unless they are pure in mind and in spirit.”


Extract from The Hallowed Book of Man

(Chapter: For the Son of Man is Lord of the Veil)

Way Thought for the Day 4th November 2012 – Does the human spirit die?

For they stand so between the Pillar of Life and the Pillar of Death

Judas said to Jesus, “Does the human spirit die?”

Jesus said, “This is why the Force of The All gave the spirits of people to them, as a loan, so that they might offer service: but the great Force of Life ordered things, in order to grant the freedom of will, so that mankind might choose his true Way, and so be rewarded for his choices, and not for his obligations that he cannot avoid.”

Extract from The Hallowed Book of Man

Chapter: The Secret Revelation to Judas Iscariot