Falzon insists BOV also gave Nationalists early retirement packages

Parliamentary secretary Michael Falzon defended a whopping €250,000 early retirement package granted to him by Bank of Valletta, his employer before his appointment to Cabinet.

He tabled in Parliament a list of other people who BOV had granted an early retirement scheme, pointing out that the list includes Fenech Adamis and Borg Costanzis, who were indeed granted a heftier retirement package.

Responding to accusations by Simon Busuttil that the early retirement package was “obscene”, Falzon questioned the Opposition leader whether he had any problem with the early retirement packages granted to the Fenech Adamis and the Borg Costanzis or whether those were acceptable “simply because they are Nationalists”.

However, Busuttil argued that Falzon’s early retirement scheme includes a unique clause that allows him to return to his former post as lawyer at the bank if he leaves Cabinet, and questioned whether any of the people on Falzon’s list were granted that same clause.

Falzon retorted that he would have to pay the sum back pro rata were he to return to his old job before 2018.