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CWPS - rate change 1st February 2023


CWPS contribution rates are based on the recommended contribution rate specified in the Sectoral Employment Orders (SEOs) for the construction sector.

The weekly rates for Pension and Sick Pay contributions will change on 1st February 2023.


The Pension, Death in Service and Sick Pay standard contribution rates to apply from 1st February 2023 are:







Updating the CWPS rates in Thesaurus Payroll Manager:

 

CWPS rates can be updated globally in Thesaurus Payroll Manager by going to Utilities > ‘Update all CWPS rates for 01/02/2023 changes':

 




Please note: care should be taken not to update the CWPS rates too early. The above task should only be performed as soon as your payroll coincides with the 1st February 2023 rate change date.



When updating the payroll for a period after 1st February 2023, should the above task remain outstanding, a message will appear on the ‘Update payslips’ screen to instruct users to increase their CWPS rates:









Voluntary CWPS rates


CWPS also facilitates the collection of some voluntary weekly industry deductions for Construction Workers Health Trust and the Benevolent Funds which can be paid as a combined payment with the Pension, Sick Pay and Death in Service contributions.

There are no changes to these rates as at 1st February 2023 and remain as follows:


 

Need help? Support is available at 01 8352074 or support@thesaurus.ie.

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