Company convicted and fined in prosecution taken by The Pensions Board
25 June 2013: In Midleton District Court on Thursday 20 June 2013 Judge Sheridan convicted Active Concrete Drilling Limited, a limited liability company with a registered address of Unit 14 Nordic Enterprise Park, Knockgriffin, Midleton, Co. Cork for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit. The company was fined €1,000.
Active Concrete Drilling Limited had deducted pension contributions from the wages and salaries of its employees in the months of February 2008, March 2008, May 2008 to July 2008, December 2008 and February 2009 to March 2012 for remittance to the trustee of CWPS but had failed to remit the contributions to the trustee within the statutory timeframe.
Commenting on the conviction in this case, the Chief Executive of The Pensions Board, Mr. Brendan Kennedy, said, “The non-remittance of pension contributions can have a significant effect on pension scheme members. The Pensions Board treats this issue seriously and advises employers in such a position to contact the trustees of the pension scheme immediately.”
For further information, contact:
Head of Operations
The Pensions Board
Note to Editors
The Pensions Board
The Pensions Board is the statutory body established by The Pensions Act 1990 to regulate occupational pension schemes, trust based RACs and Personal Retirement Savings Accounts (PRSAs) www.pensionsboard.ie.
The Board’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 and or sue any person that contravenes the provisions of the Act.
The Construction Workers Pension Scheme (CWPS)
CWPS is an occupational pension scheme approved by the Revenue Commissioners and registered with The Pensions Board.