€1.1bn for 2500 redundancies is €440k per redundancy! With no legal responsibility to close the deficit, this was lunacy.
And even at €440k this would amount to an annual pension of about 14K annually, which when combined with a state pension of say 11K, probable amounts to about 50% of salaries of the people being targeted for early retirement. In other words a reasonable deal for the bank
I think your figures are way , way out - the equivalent of 2.5 years salary to provide an ongoing pension equivalent to 50 % of final salary !
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