Ireland’s Pensions Authority has been successful in its case against an employer that failed to pay pension contributions.
The company, Deepak Fasteners (Shannon) Ltd, was convicted by Judge Durcan at Ennis District Court on Wednesday 8 April 2020. The business failed to pay employer pension contributions within the statutory timeframe pursuant to section 58A(2) of the Pensions Act 1990, as amended.
The company, with a registered address of Bays 25-30, Shannon Industrial Estate, Shannon, Co. Clare, was fined €3,000.Deepak Fasteners (Shannon) Limited had failed to pay the employer pension contributions as obliged under the terms of the pension scheme between November 2018 and January 2019 to the pension provider, Irish Life Assurance plc.
However, all outstanding contributions due to the scheme were repaid prior to sentencing. Costs of €650 were also awarded to the Authority.
Commenting on the conviction in this case, the Pensions Regulator, Brendan Kennedy, said: “This conviction should act as a warning to all employers 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.”
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