Summary
This guide explains the Construction Worker Pension Scheme (CWPS) rates that came into effect on 28 September 2020.
Description
The standard contributions you and your staff pay into your CWPS increased on 28 September 2020. Contributions after this are subject to the minimum rates in this guide. Let's take a look.
NOTE: Sage Payroll includes these rates.
Resolution
The rates
Category: SPB - Pension/Sick Pay
Type | Member contribution | Employer contribution | Total | |
---|---|---|---|---|
Pension benefits | Gross | €18.73 | €28.09 | €46.82 |
Death-in-service benefits | Gross | €1.17 | €1.17 | €2.34 |
Sick pay | Nett | €0.67 | €1.34 | €2.01 |
Total | €20.57 | €30.60 | €51.17 |
Category: SPI - Standard Contrib + Industry Additions
Type | Member contribution | Employer contribution | Total | |
---|---|---|---|---|
Pension benefits | Gross | €18.73 | €28.09 | €46.82 |
Death-in-service benefits | Gross | €1.14 | €1.17 | €2.34 |
Sick Pay | Nett | €0.67 | €1.34 | €2.01 |
Health Trust | Nett | €1.00 | €0.00 | €1.00 |
Benevolent Funds | Nett | €0.50 | €0.19 | €0.69 |
Total | €22.07 | €30.79 | €52.86 |
Category: POC - Pension Only no DIS
Type | Member contribution | Employer contribution | Total | |
---|---|---|---|---|
Pension benefits | Gross | €18.73 | €28.09 | €46.82 |
Total | €18.73 | €28.09 | €46.82 |