Construction company director convicted and fined for non compliance with statutory request in a prosecution taken by The Pensions Board
8 June 2012: Yesterday in Carrick-on-Suir District Court on Thursday 7 June 2012, Judge Finn convicted and imposed a fine of €1,000 on Owen Walsh, director of Cornerstone Homes Company Limited with a registered address of Kildalton, Piltown, Co. Kilkenny for failing to comply with a statutory request made by The Pensions Board pursuant to Section 18 of the Pensions Act 1990, to furnish certain information and documentation detailing deductions made from employees’ wages for pension scheme contributions to The Pensions Board within a specified timeframe.
The Pensions Board supervises occupational pension schemes and monitors employers’ compliance with the legislation relating to the collection and remittance of pension contributions.
Commenting on the conviction in this case, the Chief Executive of The Pensions Board, Mr. Brendan Kennedy, said, “The conviction today should act as a warning to all employers and company directors that The Pensions Board treats failure to respond to a request for information by the Board very seriously. The Board has a responsibility to enforce this requirement and regards non-compliance as a serious matter.”
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For further information, contact:
David Malone
Head of Information
The Pensions Board
Tel (01) 6131900
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) and to advise the Minister for Social Protection on overall pension policy development. See www.pensionsboard.ie
Under the Act, the Board has power to investigate the state and conduct of Irish pension schemes, and to ensure that trustees, employers, pension administrators and their advisers comply with the obligations they owe to current and former employees in relation to their pension contributions and benefits.
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. It was established pursuant to a Registered Employment Agreement (“REA”) on Construction Industry Pensions, Assurance and Sick Pay, which is registered by the Labour Court and was concluded between employers and employee organisations operating in the construction industry.
Under the REA, all employers operating in the construction industry are required to become a party to an approved contributory pension scheme to provide pension and death-in-service benefits to employees. These obligations are discharged by deducting pension contributions from their employees and remitting them to CWPS or another appropriate scheme.