The Construction Workers' Pension Scheme (CWPS) is a not-for-profit industry-wide scheme covering the entire construction industry in the Republic of Ireland. It was set up to replace the Construction Federation Operatives Pension Scheme (CFOPS) and started in business on July 1st 2006.
The scheme allows employers to fulfil their legal obligations of the Pensions (Amendment) Act 2002 to provide access to at least one Standard Personal Retirement Savings Account (PRSA). Membership of CWPS also provides death in service cover and sick pay benefit and it gives members the opportunity to build up valuable pension benefits for their retirement.
Since May 2013, the collection of both the Construction Industry Monitoring Agency (“CIMA”) and Electrical Pensions and Conditions of Employment (“EPACE”) deductions are suspended by CWPS so it does not form part of the 2019 deduction.
Further information can be found on www.cwps.ie
Within Add/Amend Employees > select the Employee > select their Deductions tab.
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