Fines and penalties
Under section 3 of the Pensions Act, 1990, as amended (the Act), it is an offence to contravene any provision of the Act or its regulations, and such offences may result in prosecution by the Pensions Authority (the Authority). For example, a failure by an employer to remit pension contributions or a failure by the trustees of a pension scheme to comply with a statutory request for information relating to the scheme.
The Authority also has the power under section 3A of the Act to issue what is called a Notice of Intention to Prosecute (NIP), as an alternative to the bringing of a prosecution in the first instance. This power applies only in respect of certain offences, which are specifically identified within the Act.
Using the powers available to it under section 3A of the Act, the Authority may impose a €2,000 fine on the person alleged to have committed the offence and require that the breach in question be remedied within 21 days to the satisfaction of the Authority. If there is a failure to comply with the requirements of the NIP, the Authority may decide to initiate a prosecution in respect of the underlying offence.
A document outlining specified offences subject to notice of intention to prosecute is available under Related File(s) below.