14 February 2017: In Cavan District Court, on Thursday, 9 February 2017, Judge McLoughlin convicted TMS Barrier Services Ltd for failing to remit employee and employer pension contributions, within the statutory timeframe pursuant to section 58A of the Pensions Act, 1990, as amended. The company with a registered address of Aeta Place, Gortnakesh, Cavan, Co. Cavan was fined €1,000.
TMS Barrier Services Ltd had deducted pension contributions from the wages of employees between January 2012 and December 2012 for remittance to the pension provider, New Ireland Assurance Ltd but had failed to remit the contributions within the statutory timeframe. The company had also failed to pay employer contributions as agreed under contracts for the same period. Full payment of all outstanding arrears was made prior to sentencing. Costs of €450 were also awarded to the Pensions Authority.
The company was further convicted of failing to comply with a statutory request issued by the Pensions Authority pursuant to section 18 of the Pensions Act. The request sought information and documentation detailing deductions made from employees’ wages and payments made to the administrators of the employees’ occupational pension scheme. These matters were taken into consideration.
Commenting on the conviction in this case, the Pensions Regulator, Brendan Kennedy, said, “This conviction should act as a warning to all employers and company directors that the Pensions Authority treats the failure of the employer to remit pension contributions as a very serious offence. We advise any employer with outstanding pension contributions to immediately regularise their position.”
For further information, contact:
Head of Operations and Communications
The Pensions Authority
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Note to Editors
The Pensions Authority
The Pensions Authority (the “Authority”) is the statutory body established by the Pensions Act 1990 (the “Act”) to regulate occupational pension schemes, trust based RACs and Personal Retirement Savings Accounts (PRSAs) and to advise the Minister for Social Protection on overall pension policy development. See www.pensionsauthority.ie
Under the Act, the Authority has power to carry out investigations into alleged breaches of the Act and to ensure that trustees, employers, pension administrators and their advisers comply with their obligations to current and former employees in relation to their pension contributions and benefits.
The Authority’s powers allow it to conduct on-site visits without notice, seize and copy relevant documents; enter dwellings on foot of a warrant, and to prosecute any person that contravenes the provisions of the Act.