construction workers pension scheme

What construction workers pension scheme does

Construction Workers' Pension Scheme (CWPS) is an Irish multi-employer occupational pension scheme established in 1965 and headquartered in Dublin. It is structured as a non-profit entity and is one of the largest private-sector pension schemes in Ireland, serving approximately 60,000 active members across more than 3,000 open employers in the construction sector. CWPS is embedded in Ireland's Sectoral Employment Order framework for construction, which underpins statutory membership and contribution mechanics for covered workers and employers.\n\nThe scheme's core product is occupational pension accumulation, delivered through a 13-fund lifestyling investment menu that automatically re-allocates member assets across the member's life-cycle. It is bundled with ancillary welfare benefits operated through the Construction Workers Sick Pay Trust (CWSPT): a Death in Service benefit of €100,000 plus €5,000 per child, and a Sick Pay benefit of €50 per day. CWPS is positioning to participate in the Irish Government's Auto Enrolment (AE) pension framework, broadening its reach beyond SEO-mandated construction workers.\n\nCWPS operates with a disclosed team of 1-10 employees, indicating that administration, investment management and member servicing are largely outsourced. Pricing is contribution-based, with small per-member and per-employer weekly amounts feeding pension accumulation and ancillary benefit funds. Distribution is anchored on long-standing relationships with construction employers and trade bodies, increasingly supplemented by an online member portal.

Name

construction workers pension scheme

Legal name

Construction Workers' Pension Scheme

Website

https://cwps.ie

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

1–10 employees

Short description

Construction Workers' Pension Scheme (CWPS) is an Irish non-profit, multi-employer occupational pension scheme serving approximately 60,000 active construction workers across 3,000+ employers, offering pension accumulation, death-in-service and sick-pay benefits under a statutory Sectoral Employment Order framework.

Ownership category

akta.pro rank

Product category

Occupational Pension Scheme

NAICS

Pension Funds (525110), Pension Funds (52511), Insurance and Employee Benefit Funds (5251)

SIC

Life Insurance (6311)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

Keywords

• Occupational pension scheme
• Multi-employer pension
• Death in service benefit
• Sick pay benefit
• Construction industry pension

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Distribution channels3 records

Marketing channels3 records

Core offering

The Construction Workers' Pension Scheme (CWPS) is a multi-employer occupational pension scheme that delivers retirement accumulation and bundled risk benefits — Death in Service cover and a Sick Pay benefit — to workers in the construction and related industries in Ireland. The scheme is offered at low weekly contribution rates to both employers and members, with no underwriting or health screening required, and membership satisfies the Sectoral Employment Orders (Construction Sectors 2023) for pension, Sick Pay, and Death in Service benefit.

Product overview

The Construction Workers' Pension Scheme (CWPS) is a single, unified multi-employer occupational pension scheme for the construction and related industries in Ireland. The core product is the pension scheme itself, which provides retirement savings accounts for approximately 60,000 active members across 3,000 employers. The scheme bundles together the core pension accumulation product with risk benefits including Death in Service cover (€100,000) and Sick Pay coverage, all administered through dedicated Member and Employer online service portals. The scheme also includes investment fund management with age-based lifestyling across thirteen separate investment funds. CWPS satisfies Sectoral Employment Orders requirements for pensions, sick pay, and death in service benefits.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction Workers' Pension Scheme (CWPS) A multi-employer occupational pension scheme providing retirement savings solutions for workers in the construction and related industries in Ireland at low cost to members and employers, allowing employers to provide valuable pension benefits to employees easily.
• Death in Service Benefit

Quantifiable outcome

• Death in Service benefit of €100,000 plus €5,000 per eligible child at low weekly cost of €1.17 to both employer and member
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Irish Government (Auto Enrolment)coreStrategic or Co-development PartnerThe Government's Auto Enrolment (AE) pension scheme has moved from blueprint to construction. CWPS helps businesses prepare for Auto Enrolment requirements, positioning the scheme as a ready solution for upcoming pension reforms.
• Construction Workers Sick Pay Trust (CWSPT)coreStrategic or Co-development PartnerFollowing consultation between WRC & Social Partners, amendments have been made to the Construction Workers Sick Pay Trust to enhance benefits payable to employees, ensuring more favourable terms than the Statutory Sick Pay Scheme.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Zurich Life Assurance (Ireland): Major Irish life and pensions provider offering group pension schemes, death-in-service, and income protection products to employers across multiple sectors. Overlaps with CWPS's employer pension and risk-benefit offering but serves a much broader market.
• Aviva Life & Pensions Ireland: Major UK-headquartered insurer offering group pensions, death-in-service, and sick pay schemes through Irish operations. Overlaps with CWPS in the employer-sponsored pensions and risk-benefit space across the Irish market.
• Irish Life: One of Ireland's largest life assurance and pension providers, offering personal pensions, group pensions, and death-in-service benefits to corporate and individual customers. Comparable to CWPS because it competes for the same Irish pension market, though it is a broad commercial insurer rather than a sector-specific occupational scheme.
• New Ireland Assurance: Irish life and pensions company owned by Bank of Ireland, providing group pension schemes and group risk benefits to corporate clients. Competes with CWPS in the Irish employer-sponsored pensions market, though across all industries rather than construction-specific.

Direct peers

• B&CE (The People's Pension): UK-based multi-employer occupational pension scheme with strong roots in the construction industry (originally the construction workers' pension scheme). Operates on a similar low-cost, sector-wide, employer-mandated model and is the closest structural analogue to CWPS in another jurisdiction.

Emerging players

• Federation of Master Builders (UK) Pension Scheme: UK construction-sector pension and benefits offering tied to a trade federation. Comparable to CWPS as a construction-specific occupational benefits scheme, though considerably smaller in scale and employer base.

Regional players

• Joint Industry Board for the Electrical Contracting Industry (JIB): UK-based industry body that administers occupational pension and sick pay schemes for electrical contracting workers under similar compliance-driven, sectoral-agreement mechanisms. Comparable to CWPS as a sector-specific occupational pension and benefits scheme, though UK-focused.
• Local Government Pension Scheme (Ireland): Public-sector multi-employer occupational pension scheme in Ireland. Comparable in its trust structure and multi-employer pooling model but operates for public-sector workers rather than private construction workers, illustrating the broader occupational-pension scheme model in Ireland.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/construction-workers-pension-scheme-cwps

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about construction workers pension scheme