Firm fined €31,000 over pension contributions

A Co Cork-based construction firm and its director has been fined €31,000 for non remittance of pension contributions to its employees.

Wave Roofing and Cladding Limited, with an address at 45 Sevenoaks, Frankfield Grange, Douglas, Co. Cork was fined after its director Gerard Walsh, pleaded guilty to 31 charges in a prosecution bought by the Pensions Board.

The case was heard by Judge O’Leary in Cork District Court, The Courthouse, Anglesea Street, Cork.

Judge O’Leary fined the company €1,000 on each of the 31 charges amounting to €31,000 in total, with 90 days to pay.

In relation to the director, Judge O’Leary adjourned the case to the February 26th in order that a report can be prepared which will assist the judge in deciding whether to impose community service or a custodial sentence of four months in realtion to each of the 31 charges.

“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. The board has a responsibility to ensure that pension contributions are remitted to the trustees of pension schemes and regards non-compliance in this regard as a serious matter," said chief executive of the Pensions Board Brendan Kennedy.

Mr Kennedy said the Pensions Board is currently preparing prosecutions of a number of other employers and directors and advised employers with outstanding pension contributions to contact the pension scheme to regularise their position.”