28 October 2011: The Government has approved a number of changes to defined benefit (DB) pension provision to help ensure its sustainability, enhance the security of member benefits and increase equity between members of DB schemes.
Wednesday 26 October 2011: The Pensions Board today published its certification conditions for sovereign annuities. Legislation facilitating the introduction of sovereign annuities was passed earlier this year, and the Board’s conditions set out what requirements insurance companies must meet if they wish to offer these products to scheme trustees.
25 October 2011: In Letterkenny District Court, yesterday, 24 October 2011, Judge Kelly imposed fines totalling €1,500 on John J Dolan with an address at Liskey, Ballinadrait, Lifford, Co. Donegal for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit and for failing to comply with a statutory request made by The Pensions Board. John J Dolan Scaffolding Limited (in Liquidation) was also convicted and fined a sum of €3,000 in respect of the same offences.
12 October 2011: In Skibbereen District Court, yesterday, 11 October 2011, Judge McNulty imposed a fine of €500 on John Burchill and imposed a fine of €500 on Kerry Burchill, both with an address of Rineen, Skibbereen, Co. Cork for failing to comply with a statutory request made by The Pensions Board. John Burchill Contracting Limited was also convicted and fined a sum of €1,000 in respect of the same offence before the court.
27 September 2011: In Wexford District Court, yesterday, Monday 26 September 2011, Judge Coughlan imposed a custodial sentence of five months imprisonment on Damien Goff and Francis Goff, directors of Goff Developments Limited, in relation to failing to remit pension contributions to the Construction Workers Pension Scheme (CWPS) for the period between November 2008 and December 2009. Both directors were also fined €4,000 with five months to pay. Goff Developments Limited was also convicted and fined €4,000 with five months to pay. Legal costs of €3,200 were also awarded.
Thursday, 15 September 2011: The Pensions Board is reminding trustees and employers that the 1st February 2012 triggers the two year legal requirement for trustee training.
Tuesday 5 July 2011:The Social Welfare and Pensions Act, 2011 was signed into law on 29 June 2011. It makes certain amendments to the Pensions Act, 1990, as amended (“the Act”). It also makes certain changes in relation to the State pension.
Tuesday 28 June 2011: In Richmond District Court on Tuesday 28 June 2011, Judge Victor Blake imposed a fine on Diarmuid O’Kane, a director of D O’Kane Excavations Limited, of €6,500 with 8 months to pay in relation to failing to remit pension contributions to the Construction Workers Pension Scheme (CWPS) for periods between October 2008 and May 2009.
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