Construction company convicted for deduction and non-remittance of employee pension contributions in prosecution taken by The Pensions Board
29 May 2013: In Swords District Court, on Wednesday 22 May 2013, Judge Dempsey struck out summonses against three company directors as full payment of the arrears due to the Construction Workers Pension Scheme (CWPS) had been made. A fine of €2,500 had previously been imposed on Rainey Conservation Limited, a limited liability company with a registered address at Balheary Road, Swords, Dublin for failing to remit employee pension contributions to the trustee of CWPS within the statutory time limit. Costs of €1,200 were also paid by the directors to The Pensions Board.
Rainey Conservation Limited, now in liquidation, had deducted pension contributions from the wages and salaries of it’s employees during the period of June 2009 to November 2011 for remittance to the trustee of CWPS but had failed to remit the contributions to the trustee within the statutory time frame. However, full repayment of the arrears due to CWPS was made by the company directors prior to their sentencing.
Commenting on the conviction in this case, the Chief Executive of The Pensions Board, Mr. Brendan Kennedy, said, “This conviction should act as a warning to all employers and company directors that The Pensions Board treats the failure of the employer to remit pension contributions to the trustees of the pension scheme as a very serious offence. We advise any employer with outstanding pension contributions to immediately contact the pension scheme to regularise their position.”
For further information, contact:
Head of Operations
The Pensions Board