NAMA left with bill of €8m for staff termination payments
The National Asset Management Agency (NAMA), established 17 years ago to manage toxic loans from the 2008 financial crisis, has been officially dissolved. The winding down process resulted in a €7.96m bill for staff termination payments, covering 54 employees. Of this, €4m was allocated for ex-gratia redundancy payments, with €1.53m paid in salaries during garden leave. Retention payments totaled €1.13m, and seven staff were transferred to the NTMA's Resolution Unit. NAMA's 2024 annual report had projected a €12.4m payout, but current figures include payments made in 2025 and future obligations through 2027. Additionally, NAMA transferred €22m in residential assets, €50m in cash, and €425m in property assets to other agencies.
The National Asset Management Agency (Nama) has incurred nearly €8 million in termination payments as it winds down operations, according to newly released figures. These payments, totaling €7.96 million, were distributed among 54 employees, averaging about €147,000 per person. The largest portion, just over €4 million, was allocated in ex-gratia redundancy payments to 47 employees. An additional €1.53 million was paid in salaries to these individuals during their gardening leave period. Retention payments amounted to €1.13 million for 49 employees. Seven of Nama’s former staff have been transferred to the Resolution Unit within the National Treasury Management Agency (NTMA), which will handle the remaining assets. Breakdowns of the payments reveal €681,000 in statutory redundancy compensation, €4.1 million in ex-gratia redundancy, and additional sums for employer PRSI and pension contributions. Retention payments totaled €1.1 million, with another €127,000 for employer PRSI on these amounts. During gardening leave, Nama stated it only paid contractual remuneration, including €270,000 for untaken annual leave. The NTMA confirmed these holiday payments were separate from the main termination benefits. Nama’s 2024 annual report had projected termination costs at approximately €12.4 million. However, the current figure includes payments from previous years and anticipates further expenses in 2027 once some fixed-term contracts expire. Nama was formally dissolved this summer, marking the end of its 17-year existence since its creation to manage toxic loans following the financial crisis. Despite completing its core mission, it retained residential assets valued at €22 million. Additionally, €50 million in cash was transferred to the NTMA, while property assets worth €425 million were passed to the Land Development Agency in 2025.
The National Asset Management Agency (Nama), which was dissolved after 17 years, has incurred nearly €8 million in termination payments for its 54 employees this year. These payments include €4 million in ex-gratia redundancy payments, €1.53 million in salary during gardening leave, and €1.13 million in retention payments. Seven employees were transferred to the NTMA's Resolution Unit. Nama's 2024 annual report had projected total payout costs of around €12.4 million, but current figures reflect payments made in 2025 and future obligations through 2027. Nama's dissolution followed its role in managing toxic loans from the financial crisis, with remaining assets transferred to other agencies.
Bias read (Center): The article presents factual information about Nama's financial obligations and restructuring without overtly favoring any political stance. While the topic involves government operations and public finances, the framing remains neutral, focusing on data and official statements rather than taking a党
Why factuality (85): The article provides specific figures and details about Nama's termination payments, including numbers of employees, amounts paid, and categories of payments. These figures align with the cross-source consensus between the Irish Times and RTÉ News. The article cites records released under Freedom of
Why objectivity (80): The tone remains neutral, presenting facts without overt bias. It includes quotes from both Nama and NTMA, showing balance. However, the inclusion of a question about government strategy at the end introduces a slight editorial angle, suggesting potential criticism of policy.
The National Asset Management Agency (NAMA), established 17 years ago to manage toxic loans from the 2008 financial crisis, has been officially dissolved. The winding down process resulted in a €7.96m bill for staff termination payments, covering 54 employees. Of this, €4m was allocated for ex-gratia redundancy payments, with €1.53m paid in salaries during garden leave. Retention payments totaled €1.13m, and seven staff were transferred to the NTMA's Resolution Unit. NAMA's 2024 annual report had projected a €12.4m payout, but current figures include payments made in 2025 and future obligations through 2027. Additionally, NAMA transferred €22m in residential assets, €50m in cash, and €425m in property assets to other agencies.
Bias read (Center): The article presents factual information about the dissolution of NAMA and associated financial commitments without overtly favoring any political stance. It provides balanced reporting on the financial implications and administrative actions taken during the closure, without emphasizing ideological
Why factuality (85): This article mirrors the Irish Times' reporting with similar figures and explanations. It references the same records and official statements, maintaining consistency with the cross-source consensus. The mention of Nama's 2024 annual report estimate adds context and supports the factual claims.
Why objectivity (80): The article maintains a neutral tone, providing information without apparent bias. It includes quotes from officials and presents the situation objectively. However, the incomplete ending suggests a possible cut-off, which might imply a lack of full editorial neutrality.
How each side covered it
The same event, grouped by the political lean of the outlets covering it.
progressive
center
conservative
★
How each side covered it
Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.
Ireland
%3Aquality(80)%2Foutremer%252F2026%252F07%252F02%252F6a45fbfcd3158275165955.jpg&w=3840&q=75&output=webp&we)
