The President of the Irish Medical Organisation Dr Paul McKeown has said that he shares the fury of members about the controversial pension arrangements for outgoing chief executive George McNeice who retired just before Christmas.
He acknowledged that the €20 million entitlement accrued by Mr McNeice was a very, very large amount, but pointed out that the IMO had negotiated a reduction to €9.7 million.
IMO members are holding an extraordinary general meeting in Mullingar to discuss the controversy.
Members voiced anger at details of Mr McNeice’s retirement package as they arrived at the meeting, with some saying they were considering leaving the organisation.
He was earning around half a million euro a year at the time of his departure, with significant bonus payments.
Mr McNeice was also entitled to a lump sum of three times his annual salary - totalling €1.5 million.
IMO legal advice was that Mr NcNeice's contract was valid and enforceable - but following negotiations Mr McNeice agreed to halve his entitlements to a package worth €9.7 million.
The IMO has commissioned a full forensic audit of the IMO's finances.
Arriving for the meeting, IMO members described the pension arrangements as unacceptable excessive and bizarre.
Some are likely to seek a further investigation of the finances of the organisation.
He acknowledged that the €20 million entitlement accrued by Mr McNeice was a very, very large amount, but pointed out that the IMO had negotiated a reduction to €9.7 million.
IMO members are holding an extraordinary general meeting in Mullingar to discuss the controversy.
Members voiced anger at details of Mr McNeice’s retirement package as they arrived at the meeting, with some saying they were considering leaving the organisation.
He was earning around half a million euro a year at the time of his departure, with significant bonus payments.
Mr McNeice was also entitled to a lump sum of three times his annual salary - totalling €1.5 million.
IMO legal advice was that Mr NcNeice's contract was valid and enforceable - but following negotiations Mr McNeice agreed to halve his entitlements to a package worth €9.7 million.
The IMO has commissioned a full forensic audit of the IMO's finances.
Arriving for the meeting, IMO members described the pension arrangements as unacceptable excessive and bizarre.
Some are likely to seek a further investigation of the finances of the organisation.
