Bonus pay to staff at the National Treasury Management Agency (NTMA) and connected entities for last year increased by 13% to €3.22m.
New figures show that the largest proportion of the performance related pay was made to NTMA staff which totalled €2.58m.
The NTMA 2024 annual report shows that the NTMA made performance-related payments to 271 employees in 2025 in respect of 2024.
The report states that the highest individual payment was €30,000 while the lowest individual payment was €1,000.
The €3.22m bonus payout compares to €2.85m in bonus payments made in 2023.
The annual report states that “discretionary performance-related payments are intended to reward exceptional performance taking into account the employee’s individual performance, the performance of the employee’s area of responsibility, and the overall performance of the NTMA”.
The National Asset Management Agency (NAMA) acts under the NTMA umbrella and bonus payments to NAMA staff last year totalled €306,000.
A further €192,000 was paid in bonuses to Strategic Bank Corporation of Ireland (SBCI) staff and €137,000 in bonuses was paid to Home Building Finance Ireland (HBFI) staff.
Key management personnel at the NTMA shared bonus payments of €186,000. Total pay to key management personnel amounted to €3.34m.
The figures show that the numbers of NTMA staff earning over €100,000 last year increased from 186 to 214.
The report shows that current NTMA chief executive Frank O’Connor received a pay package of €571,000 made up of €480,000 in salary, €86,000 in post employment benefits and €5,000 in taxable benefits.
A note states that “the chief executive did not receive a discretionary performance related payment in respect of 2024 or 2023”.
The pay range shows that one NTMA staff member is on pay between €475,000 to €500,00; two earned between €350,000 to €375,000; four earned between €300,000 to €350,000; 22 who received between €200,000 and €300,000; 59 between €150,000 and €200,000 and 126 earned between €100,000 and €150,000.
The pay range includes salary, other taxable benefits and bonuses.
The NTMA report states that its objective “is to ensure that its remuneration arrangements facilitate it in attracting, developing and retaining high performing and motivated employees, with appropriate skills and experience”.
This is to ensure that the NTMA can fully carry out its statutory functions in an effective and efficient manner, while complying with applicable law, the report adds.
Numbers employed by the NTMA group last year increased from 801 to 829 and short term staff benefits increased from €83.85m to €100.79m.
The report shows that 51% of staff at the NTMA are female.
Meanwhile, the NTMA spend on staff hospitality last year totalled €145,248 and on client hospitality amounted to €78,863.
Reporting by Gordon Deegan
