Bench warrant for the arrest of two construction company directors issued in prosecution taken by The Pensions Board

31 May 2012: In Waterford District Court on Monday 28 May 2012, Judge David Kennedy issued a bench warrant for the arrest of two construction company directors of Leinster Formworks Limited; Patrick Browne of 19 Castlewoods, Ballinamona, Waterford  and Tony Henderson of Ballycashin Road, Butlerstown, Waterford.

In Waterford District Court on Monday 14 May 2012, Judge David Kennedy convicted the directors of Leinster Formworks Limited for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit. Sentencing was adjourned for two weeks to give the directors an opportunity to make a payment to the pension scheme towards the arrears of contributions. By 28 May 2012 no payments to the pension scheme were made by the directors and the Judge issued a bench warrant for the arrest of both directors.

Leinster Formworks Limited had deducted pension contributions from the wages and salaries of its employees in the months of April – June 2006, October – December 2007, May – December 2008, January – October 2009, December 2009, May 2010, July – December 2010, January – February 2011 for remittance to the trustee of CWPS but had failed to remit the contributions to the trustee within the statutory time frame. These offences were committed with the consent, connivance or were attributable to the neglect on the part of Patrick Browne and Tony Henderson, directors of the company.

Commenting on the convictions in this case, the Chief Executive of The Pensions Board, Mr. Brendan Kennedy, said, “This conviction should act as a warning to all employers and company directors 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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For further information, contact:
David Malone
Head of Information
The Pensions Board
Tel (01) 6131900

Note to Editors

The Pensions Board

The Pensions Board is the statutory body established by The Pensions Act 1990 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.pensionsboard.ie

Under the Act, the Board has power to investigate the state and conduct of Irish pension schemes, and to ensure that trustees, employers, pension administrators and their advisers comply with the obligations they owe to current and former employees in relation to their pension contributions and benefits.

The Board’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 and or sue any person that contravenes the provisions of the Act.

The Construction Workers Pension Scheme (CWPS)

CWPS is an occupational pension scheme approved by the Revenue Commissioners and registered with The Pensions Board.  It was established pursuant to a Registered Employment Agreement (“REA”) on Construction Industry Pensions, Assurance and Sick Pay, which is registered by the Labour Court and was concluded between employers and employee organisations operating in the construction industry.

Under the REA, all employers operating in the construction industry are required to become a party to an approved contributory pension scheme to provide pension and death-in-service benefits to employees. These obligations are discharged by deducting pension contributions from their employees and remitting them to CWPS or another appropriate scheme.

 
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  • This pension’s calculator is designed to give a broad indication of the level of contributions required to give your desired pension at your retirement age. This calculator only provides a sample indication of the funding contributions for your pension and no reliance should be placed on it.
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  1. Assumptions used: Investment return will be 5% per year before retirement and 4% per year after retirement. Salary will increase at 3% per year. Pension will increase at 2% per year in retirement. The State Pension will increase in line with salary increases. Spouse's annuity assumes a 3 year age gap between the Main Life and Spouse. Your personal illustration above makes an approximate allowance for the recently introduced Pensions Levy (i.e. 0.6% of your Fund Value) until 2014 or your intended retirement year if earlier.
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