Construction Workers' Pension Scheme

The Construction Workers' Pension Scheme (CWPS) is a prominent multi-employer occupational pension scheme in Ireland, specifically catering to the construction and related industries. With approximately 60,000 active members and over 3,000 participating employers, CWPS stands as one of the largest private sector pension schemes in the country. The scheme provides a cost-effective solution for employers to offer valuable pension benefits to their employees, thereby facilitating compliance with statutory requirements and enhancing employee satisfaction. Operating within the framework of Sectoral Employment Orders, CWPS ensures that both employers and employees benefit from structured pension arrangements. The scheme's business model revolves around offering low-cost pension management services, which are crucial for employers looking to manage statutory sick pay costs efficiently. By participating in CWPS, employers can seamlessly integrate pension benefits into their compensation packages, thus attracting and retaining skilled workers in the competitive construction sector. The scheme's focus on auto-enrolment and additional voluntary contributions (AVCs) further underscores its commitment to providing comprehensive pension solutions.

Keywords: pension, construction, multi-employer, Ireland, low-cost, statutory, benefits, auto-enrolment, AVCs, compliance.