The Construction Workers' Pension Scheme (CWPS) is an industry-wide pension scheme, providing low cost pension and protection benefits for workers in the construction and related industries. CWPS is an Occupational Pension Scheme which is registered with the Revenue Commissioners as an exempt approved scheme and is also registered with the Pensions Authority. CWPS operates within the normal regulatory framework for pension schemes in Ireland and under the Scheme's Trust Deed and Rules. CWPS satisfies the conditions of the Sectoral Employment Order for the construction sector in respect of pension, Sick Pay and Death in Service benefit for all workers registered with CWPS.
With over 23,000 active members supported by over 2,000 participating employers, CWPS is one of the largest occupational pension schemes in Ireland.
CWPS is a Master Trust arrangement and is operated on behalf of the industry by an independent Trustee Company called the Construction Workers’ Pension Scheme Trustees Designated Activity Company (the Trustee) which consists of a Board of 11 Directors who represent both employers and members in the industry. The Trustee engages the services of Investment Advisors, Investment Managers and Actuarial Consultants to ensure that the fund is positioned to achieve the optimum returns for members. CWPS is administered by a professional Pension Administration company CPAS on behalf of the Trustee.
CWPS is well recognized both nationally and internationally and was awarded the Best Pension Fund in Ireland category at both the 2014 and 2015 IPE European Pensions Awards.
The CWPS Trustee also won Trustee Board of the Year at the Irish Pensions Awards for 2017.