Company director convicted and fined in prosecution taken by the Pensions Authority
04 January 2017: In Portlaoise District Court, on Friday 16 December 2016, Judge Catherine Staines convicted Cornelius Farrell, a director of C.F. Quality Decorators Ltd for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit, pursuant to section 58A(1) of the Pensions Act, 1990, as amended. Cornelius Farrell, with an address of 6 Connolly Street, Mountmellick, Co. Laois was fined €100. Costs of €250 were awarded to the Authority.
On the first date in court, Cornelius Farrell pleaded guilty to the offence and sentencing was adjourned to allow the director time to pay the arrears due to the scheme. The employee arrears related to periods between July 2011 and October 2012. Payment of employee deductions totaling €9,592 which were due to CWPS, were paid 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:
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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. 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.