Alternative Scheme

If as an employer you are providing an alternative scheme to your workers, it must be at least equivalent to the provision of benefits as specified in the REA. The responsibility is on the alternative pension provider to prove that their scheme is equivalent of better to the Registered Employment Agreement (Construction Industry Pensions Assurance & Sick Pay). In cases of dispute, the matter will be referred to the Labour Court.

Currently, the only compliant pension scheme which is approved by the Labour Court is the Industry scheme the Construction Workers Pension Scheme (CWPS)

PRSA’s

It is important to note that PRSA’s are not a suitable alternative.