Trust Deed and Rules
CWPS is operated by a Trustee Company called Construction Workers' Pension Scheme Trustees Designated Activity Company (The Trustee). This service comes at no additional charge and it removes the burden of time, cost and effort for employers who can hand over the duty of care of the pension fund to the Trustee Company.
The Trustee are responsible for running the Scheme according to the legal document ‘Definitive Trust Deed and Rules of the CWPS’ which governs it. The Trustee must make sure that the Scheme complies with the current legal requirements; that the benefits are paid out correctly and on time and that the fund is invested prudently so that it can pay benefits when they are due. There are full legal, actuarial and investment services provided to the Trustee at no extra cost to the members of CWPS.
Each employer who signs a Deed of Adherence to CWPS upon registration agrees to be bound by the Trust Deed and Rules of CWPS. Click on the link for a copy of the Definitive Trust Deed and Rules or the Deed of Adherence.
Trustees have the main responsibility for the administration of funded occupational pension schemes and must comply with the Government legislative requirements that apply to these schemes. Follow the link to read about the Regulatory Guidelines.