The Pensions Authority has successfully prosecuted a company director for failing to pay employee pension contributions into the Construction Workers Pension Scheme.
The ruling was made at the Waterford District Court on 26 July 2021 by Judge Staunton.
As a result, Alan Kearney, director of Total Facades Limited, was found guilty for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS), within the statutory timeframe pursuant to section 58A(1) of the Pensions Act 1990, as amended.
Kearney of 39 Cedar View, Forest Road, Swords, Co. Dublin was fined €1,000.
Total Facades Limited had deducted pension contributions from the wages and salaries of its employees between April and August 2018 for remittance to the trustee of CWPS but had failed to remit the contributions within the statutory timeframe. However, a significant portion of the outstanding employee contributions due to the scheme were repaid prior to sentencing.
Commenting on the ruling, 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".
Latest News
-
Pension reforms could boost productive investment in EU; private pension systems remain 'underdeveloped'
-
Chesnara agrees £260m HSBC Life acquisition
-
Danish companies collaborate to improve senior workforce
-
Danish men prioritise future finances more than women in their education choices
-
KPA Pension acquires rental homes for SEK 822m
-
Iceland’s LV publishes first report on negative impact of its investments in line with SFDR
Podcast: Stepping up to the challenge
In the latest European Pensions podcast, Natalie Tuck talks to PensionsEurope chair, Jerry Moriarty, about his new role and the European pension policy agenda
Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.
In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.
In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories