Watchdog probes €35m pension scheme fraud

THE largest single pension scheme in the country is being investigated by the Pensions Board following allegations of fraud on a massive scale.

As an Irish Examiner investigation into the Construction Federation Operatives Pension Scheme revealed yesterday, up to €35 million annually is being siphoned away by construction firms which are not paying mandatory pension entitlements for their workers.

By law every construction employer must pay the scheme €13.65 a week for each employee.