The Pensions Board has prosecuted an employer for failure to comply with the Pensions Board requests for information in relation to his PRSA obligations as an employer.
Sean Murphy with an address at Windsor, Ovens, County Cork also failed to furnish the Pensions Board with a copy of the contract entered into by him with a PRSA provider.
A fine of €300 was imposed by the Court on the defendant and costs of €800.
A PRSA is a long term savings account designed to assist people to save for their retirement.
The Pensions Board supervises the activities of PRSA providers in relation to their approved products and monitors employers' compliance with the legislation regarding PRSAs.
CEO of the Pensions Board, Brendan Kennedy, said: ' By 15 September 2003 all employers were required to have entered into a contract with a PRSA provider to allow access to at least one Standard PRSA to all "excluded employees" on and from that date'.
He added that this requirement is a key component in the drive to increase private pension coverage in Ireland and the Board regards non-compliance as a serious matter.
