Relax.

Not to us.

MORE THAN 14,000 current and former staff of Eircom are set to share a tax-free windfall of about €125 million following a decision by the board of the employee share ownership trust (Esot) to wind it up after the company recently emerged from examinership with new owners.

This would amount to an average tax-free payout to Esot scheme members of €8,928.

Since the establishment of the Esot in late 1998, members have received, on average, about €62,500 each, depending on when they joined the trust.

Eircom share trust members to get €125m tax-free windfall (Irish Times)