£3m plus transferred to nine Trust pensioners

OVER three millions pounds were transferred from Foyle and Altnagelvin Trust pensions schemes to third party pension schemes on behalf of nine senior employees in 2005/6.

By The Newsroom

Published 9th Sep 2010, 11:56 BST

The money related to Cash Equivalent Transfer Values (CETV). Directors and senior employees at the Trusts with more than 12 months to go before normal retirement age availed of the option of a CETV to another registered pension scheme.

In the Foyle Trust one employee was recorded as having been subject of a CETV with 425,000 transferred in total in 2005/6.

In the Altnagelvin Trust eight employees exercised the option with 2,968,000 paid out in total. The lowest CETV at Altnagelvin was 235,000 whilst the highest was 468,000.

Health Minister Michael McGimpsey outlined the information in response to a question at the Stormont Assembly.

Due to the information relating to personnel, no individual names or distinguishing information was provided.

Foyle