Thursday 21 September 2017: In Dublin District Court, on Monday, 18 September 2017, Judge Brennan convicted Laurelcroft Ltd for failing to remit employee pension contributions, within the statutory timeframe pursuant to section 58A(1) of the Pensions Act, 1990, as amended. The company with a registered address of Eagle House, Eblana Villas, Wentworth, Dublin 2 was fined €1,000.
Laurelcroft Ltd had deducted pension contributions from the wages of employees for remittance to the Construction Workers Pension Scheme (CWPS) for November and December 2015 but had failed to remit the contributions within the statutory timeframe. However, all outstanding employee contributions relating to the summons were repaid prior to sentencing. Costs of €500 were also paid to the Authority.
The company was further convicted of failing to comply with a statutory request issued by the Pensions Authority pursuant to section 18 of the Pensions Act. The request sought information and documentation detailing deductions made from employees' wages and payments made to the CWPS. The company was fined €500.
Commenting on the conviction in this case, the Pensions Regulator, Brendan Kennedy, said, "This conviction should act as a warning to all employers and company directors that the Pensions Authority treats the failure of the employer to remit pension contributions as a very serious offence. We advise any employer with outstanding pension contributions to immediately regularise their position".
For further information, contact:
Head of Operations
The Pensions Authority
Tel (01) 6131900
Note to Editors
The Pensions Authority
The Pensions Authority ("the Authority") is the statutory body established by the Pensions Act 1990 ("the Act") 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.pensionsauthority.ie
Under the Act, the Authority has power to carry out investigations into alleged breaches of the Act and to ensure that trustees, employers, pension administrators and their advisers comply with their obligations to current and former employees' in relation to their pension contributions and benefits.
The Authority'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 any person that contravenes the provisions of the Act.