Displaying items by tag: benefit in kind

11th January 2012

AIB No Longer Covering Sailing Club Subs for Staff

#SAILING CLUBS - Sailing enthusiasts on AIB's staff have taken a blow to the wallet as the bank is to stop paying club membership fees for employees, the Irish Independent reports.

In an e-mail seen by the paper, AIB head of human resources John Conway said the cuts - which came into effect on 1 January - were the result of a review of benefit structures within the bank, which is dealing with "ongoing problems".

The change brings to an end two benefits-in-kind that had been considered significant attractions for new employees, the other being special lending rates for staff members.

Up till the end of 2011, AIB covered 50% of club membership fees up to €1,250 for rank and file employees, and 100% of fees up to €2,500 for management. Bank of Ireland staff continue to receive similar perks.

The moves comes not long after the Irish Sailing Association's announcement of proposals to revise its sailing club membership fee structure.

As previously reported on Afloat.ie, the ISA will convene an EGM next month to discuss changes to the 'joint membership scheme' in favour of a "single fee formula that is proportionate to a club's membership subscription income".

The Irish Independent has more on the story HERE.

Published in ISA

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Shannon Foynes Port Information

Shannon Foynes Port (SFPC) are investing in an unprecedented expansion at its general cargo terminal, Foynes, adding over two-thirds the size of its existing area. In the latest phase of a €64 million investment programme, SFPC is investing over €20 million in enabling works alone to convert 83 acres on the east side of the existing port into a landbank for marine-related industry, port-centric logistics and associated infrastructure. The project, which will be developed on a phased basis over the next five years, will require the biggest infrastructure works programme ever undertaken at the port, with the entire 83 acre landbank having to be raised by 4.4 metres. The programme will also require the provision of new internal roads and multiple bridge access as well as roundabout access.