Fmr IMO chief's pension could have topped €25m

The Irish Medical Organisation has confirmed that its outgoing chief executive's pension entitlements could have topped €25m had he stayed on.

George McNeice retired as chief executive before Christmas at the age of 52 with accrued entitlements totalling €20m.

Following negotiations he agreed to settle for a package totalling €9.7m.

That settlement includes a termination payment of approximately €1.5m.

Around 150 of the IMO's 5,000 members attended an EGM in Mullingar today to hear details of the controversy.

IMO president Dr Paul McKeown told them that a full independent audit had been commissioned, as well as a review of corporate governance.

Earlier, The President of the Irish Medical Organisation Dr Paul McKeown  said that he shares the fury of members about the controversial pension arrangements for outgoing chief executive George McNeice who retired just before Christmas.

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 €500,000 a year at the time of his departure, with significant bonus payments.

IMO legal advice was that Mr NcNeice's contract was valid and enforceable.

The IMO has commissioned a full forensic audit of the IMO's finances.

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