Following the resignation of his Dáil seat, former Fine Gael TD, Eoghan Murphy ,will receive €61,320 in termination payments over the next eight months.
In his role as a TD, Mr Murphy earned a salary of €98,113 per annum which determines the payoff he will receive as he resigns his seat.
The lump sum is calculated by adding two months of his full TDs’ salary, to six months of payments at 75% of his monthly salary, and two months at 50%.
In total, that brings the payment to €61,320 as he resigns his Dáil seat.
In due course, Mr Murphy will also be entitled to substantial – and separate – pensions for his time as a TD and a Housing Minister.
Under GDPR regulations, the public is no longer entitled to know the details of those pension payments but previously a combined Ministerial and TD’s pension would add up to more than €100,000 per year.
Mr Murphy is expected to seek a position in international affairs, saying he wished to pursue a career in the area of international cooperation, human rights and democracy.”
His Fine Gael colleague, Neale Richmond, was heard ‘off-mike’ at the Oireachtas Finance Committee saying that he believed Murphy had “got something teed up.”
In a statement, Mr Murphy said it has been “a huge privilege to serve the Dublin Bay South constituency” as he stepped back from politics despite being re-elected for a third time just over a year ago. He said it was “a personal decision” to resign his seat.