Partial Pay Restoration:
The Association is pleased to announce that members who suffered the severe 2013 FEMPI pay cut, (the 3rd cut) will see the first half of the restoration of this cut on the 1st April.
From the 1st April 2017 members whose salaries are less then €65,000 will be paid €1,000 in restoration. Members whose salaries are over €65,000 will receive half of the HRA.
This will mean salaries will be restored by approximately 2.75%.
The 2nd part of the restoration for those on salaries over €65,000 will happen on 1st January 2018 with restoration of the same amounts.
While these payments are welcome it must be noted that they will only partially restore the unparalleled 23% pay reductions suffered by members at the height of the financial crisis and will do little to bridge the ever widening pay gap at senior levels in the private and public sector.