Nama staff get €20m in termination payments and €2m in bonuses
Nama is to wind down by the end of 2025 with staff being incentivised through bespoke retention and redundancy packages to remain with the agency
The National Asset Management Agency (Nama) has paid out over €20 million in termination payments since 2015, and €2.2 million in staff bonuses since they started in 2017.
The news comes as Michael McGrath, the minister for finance, announced the plans to absorb any remaining work of Nama into a unit of the National Treasury Management Agency at the end of 2025, as Ireland’s ‘bad bank’ winds down.
An examination of Nama’s annual reports from 2015-2022 by the Business Post shows that €14.3 million has already been spent on the redundancy and retention schemes, growing to €20.6 million when gardening leave is included as part of the total termination payments.
