IRELAND - The Pensions Board has prosecuted the trustee of occupational pension scheme Motor Import Limited Pension & Life Assurance Scheme for failure to provide timely information in relation to its scheme.
The Board said the trustee, who was fined e500 and costs of 22400 plus VAT, failed to make its annual report for the scheme available to members and other specified persons and to notify the members of the availability of the report within the specified time limits under the Disclosure Regulations.
Pensions Board CEO Anne Maher said: “The disclosure of pensions information in a timely manner enables scheme members to monitor their benefits and the financial soundness of their pension schemes.”
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