Judges and the recession

Surey that just proves lawyers earn too much in private practice than judges earn too little.
 
Agreed.

It is the same all over the world. In the US and UK people only get judgeships so they can semi retire.
 
Sunny said:
Surey that just proves lawyers earn too much in private practice than judges earn too little.
Click to expand...

The reason that people became judges was the status and the pension. The cynic in me thinks the pension was the major factor. Judges sat for 10 years, or less, and ended up with massive pensions for next 30 years. The cost to the state was millions and dwarfed the salary they received.
I'm open to correction but I think that has been changed and the pension contributions made by the state are now more moderate. If so it would explain why €3500 a week is not enough.
The cynic in me also wonders why people who earn many hundreds of thousands a year don't make their own pension arrangements.
 
Purple said:
The reason that people became judges was the status and the pension. The cynic in me thinks the pension was the major factor. Judges sat for 10 years, or less, and ended up with massive pensions for next 30 years. The cost to the state was millions and dwarfed the salary they received.
I'm open to correction but I think that has been changed and the pension contributions made by the state are now more moderate. If so it would explain why €3500 a week is not enough.
The cynic in me also wonders why people who earn many hundreds of thousands a year don't make their own pension arrangements.
Click to expand...

Why bark when you have a dog?
 
My mistake; there's been no changes to their pensions. Judges are entitled to a full pension after 15 years service. The average pension, as of last year, was €85'000 with the average lump sum payment at retirement standing at €261'000. I don't know what the average working life of a judge is.
What would a private pension worth that amount be worth? Just to get that pension, excluding the lump-sum, you'd have to be putting away €7'000 a month at a minimum.
That means that a judges total remuneration package is worth at least €232'000 a year or €4'460.00 a week.
Sources;
http://www.irishexaminer.com/ireland/judges-pensions-average-85000-216266.html
http://www.thejournal.ie/judges-salaries-606635-Sep2012/
Pensions figures from
 
From Olivia O'Leary in today's IT

Government needs to call senior judges’ bluff on pay
http://www.irishtimes.com/news/crim...-to-call-senior-judges-bluff-on-pay-1.1707245
We were in a queue, lining up to pay our respects at a funeral, and there were lots of legal people there. One called out to a retired judge behind me, asking him how he was managing to live on his reduced pension. “Like a mendicant friar,” the judge called back mournfully. “Like a mendicant friar.”
Then they both started to talk about wine, and a particularly good wine which came from a small vineyard in the south of France owned by a colleague, and whether the wine at the King’s Inns was good enough. It’s not easy, being a mendicant friar. . . with a taste for fine wine.
I think judges should be paid as good a salary and pension as the State can afford. Right now, the State can’t afford to pay the sort of salaries and pensions it paid during the boom. It never could afford to pay the sort of salaries and pensions it paid during the boom and probably never will again.
Click to expand...
 
Delboy said:
From Olivia O'Leary in today's IT

Government needs to call senior judges’ bluff on pay
http://www.irishtimes.com/news/crim...-to-call-senior-judges-bluff-on-pay-1.1707245
Click to expand...

The bigger issue is why do we spend 4 times as much per head as Germany on our Justice system.
From my previous link;

"The total annual approved budget allocated to the whole Irish justice system in 2010 was around €2.5 billion. German spent the most in 2010 on its whole justice system in 2010 with a figure of over €13 billion."
 
You must log in or register to reply here.
Back
Top