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05 Mar 09: Pensions Ombudsman Strengthens Links with Revenue Commissioners

The Pensions Ombudsman, Mr. Paul Kenny, has signed a Memorandum of Understanding with the Chairman of the Revenue Commissioners setting out procedures for the exchange of information between them. The legislative basis for the Memorandum is Section 4(1) of the Pensions Act 1990 as substituted by Section 29(1)(c) of the Social Welfare & Pensions Act, 2008.
Commenting on the signing of the Memorandum, Mr. Kenny said that during the course of his investigations he can receive information which might suggest that an offence under the Tax Act or the Pensions Act might have been committed and that it was very important that such information be made available to the relevant authority.
“My Office investigates complaints where people have suffered a financial loss because of maladministration of their pensions. On completion of my investigation, I will make the appropriate Determination which can then only be appealed to the HighCourt. However, if my investigations suggest that activities by individuals or companies may constitute an offence under the Tax Acts, it is only right that this information be brought to the attention of the relevant authorities. Those who are compliant have every right to feel aggrieved at the actions of those who are not.
Consequently this is not simply a mechanism to ensure that wrongdoers in the pensions and taxation areas are brought to justice but it also strengthens the position of those who conduct their affairs with integrity.” he said.
“I also wish to extend my thanks to the Revenue Commissioners for the high degree of co-operation which my Office receives from them in the course of our investigations”, he said.

For further information, contact Mr. Paul Kenny, Pensions Ombudsman, at (01)6471650.
5th March, 2009