Occupational Pension Schemes

These are Pensions arranged by the employer for the benefit of their employees. Usually, both the employer and employee will contribute to the fund.

Employer Obligations

Currently, there is no legal obligation on an employer to set up or contribute to a pension scheme unless the employees are specified workers set out under a Sectoral Employment Order.

If you have employees not in a scheme, you will need to provide access to a PRSA.  To learn more about PRSA’s, you can talk to the team in Milestone Advisory.

Changes to Employer Obligations.

From 2024, the government plans to introduce an auto enrolment scheme for employees who do not have a pension scheme. This means that Employer Obligations around pensions will be fundamentally changed.

Frequently asked questions

Everything you need to know about the product and billing.

No. If all your staff are covered by an occupational pension scheme, you do not have to enrol them in the Auto Enrolment scheme.

After salary, your total benefits package is the most important tool to aid in the recruitment and retention of staff.

To ensure that your employees see the value of investment in a pension scheme, the benefits must be communicated effectively.

CPAS assists company owners and HR teams design suitable pension schemes and facilitates effective communication around the value of their Pension schemes in place.

Employers who prioritise their Pension scheme attract and retain the high level of employees their company needs to succeed.

Pension Scheme Design - CWPS

The Construction Workers’ Pension Scheme (CWPS), is a multi-employer occupational pension scheme for the Construction and related industries. The scheme is designed to provide the benefits as set out under the SEO’s.

Similar with a master trust, the scheme is set up under one established trust.  The CWPS has one board of professional trustees, which removes the burden from the employer as everything is done under the one trust. Employers join the scheme by adhering to the main trust. This allows employers to take advantage of the economies of scale.

The CWPS Trust meets all the regulatory standards and expectations of it under the IORP II legislation.

Pension Scheme Design – CERS

Construction Executive Retirement Savings (CERS) is also an industry wide multi-employer scheme, with an independent Trustee company.

Similar with a master trust, the scheme is set up under one established trust. CERS has a board of professional trustees, which removes the burden from the employer as everything is done under the one trust.  Employers join the scheme by adhering to the main trust. This allows employers to take advantage of the economies of scale.

  • CERS provides flexible and bespoke pension solutions that enable Employers to provide attractive  pension and benefits packages to their staff
  • The CERS Trust meets all the regulatory standards and expectations of it under the IORP II legislation.

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