25/11/2011
By Adam Cadle
A fine of €500 has been imposed on Fire and Sound Systems Limited, after the company failed to remit employee pension contributions within the statutory period, leaving its employees uncovered for pension benefits, sick pay benefits or death in service benefits, the Irish Pensions Board has said.
The fire protection supplier based in Longford, Ireland was given the fine at Longford District Court on Tuesday after the court found that the company had deducted pension contributions from the wages and salaries of its employees in the months from February 2010 to June 2010 for remittance to the trustee of the Construction Workers Pension Scheme, but did not meet the required timeframe.
The Pensions Board chief executive Brendan Kennedy, said, “This conviction should act as a warning to all employers 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.”
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