CWPS Pension Contribution Rates
The CWPS pension rate is based on the average basic construction industry wage. This is the average of the basic Craft and Construction Operative wage rates agreed by the National Joint Industrial Council (NJIC) for the construction industry from time to time. Currently the total contribution rate is 7% of the average basic construction industry wage. The employer contributes 4.2% and the employee contributes 2.8%.
Below are the weekly rates for Pension, Death in Service and Sick Pay contributions.
The pension rates remain unchanged for 2017 Scheme year.
There is 100% allocation to members' funds from pension contributions paid.
Rates for the Construction & Related Industries
|Death in Service Contribution
|Sick Pay Contribution
|Standard Contribution Total
* Contributions for Pension and Death-in-Service Benefit are made before PAYE is calculated.
CWPS facilitates the collection of some voluntary industry deductions as set out below on behalf of the social partner entities listed and these can be paid as a combined payment with the Pension, Death in Service and Sick Pay contributions.
Weekly remittances charged by the Construction Workers Health Trust and the Benevolent Funds.
|Construction Workers Health Trust
|Employer Benevolent Fund
|Employee Benevolent Fund
Here you can also download CWPS pension contribution rates for previous years -