Company convicted and fined in prosecution taken by the Pensions Authority
Tuesday 13 November 2018: In Killarney District Court, on Tuesday 6 November 2018, Judge Waters convicted Kerry Coaches Ltd for failing to remit employee pension contributions within the statutory time-frame pursuant to section 58A(1) of the Pensions Act, 1990, as amended. The company with a registered address of Woodlands Industrial Estate, Killarney, Co Kerry was fined €900. Costs of €395 were awarded to the Pensions Authority.
Kerry Coaches Ltd had deducted pension contributions from the wages and salaries of employees for periods between May 2015 and October 2017 for remittance to the pension provider, Zurich Life Assurance plc, but had failed to remit the contributions within the statutory time-frame. However, all outstanding employee contributions due to the scheme were repaid prior to sentencing.
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
The Pensions Authority
Tel: (01) 6131900
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 Employment Affairs and 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.