About the scheme

The Plumbing and Mechanical Services (UK) Industry Pension Scheme was set up in 1975 with the aim of providing pension benefits for all employees of firms engaged in the Industry in the United Kingdom.

The Scheme is governed by a Deed set up under Trust Law and operated and administered by a Trustee Company, Plumbing Pensions (UK) Ltd, whose Directors are drawn from the following industry bodies:

• The Association of Plumbing and Heating Contractors (APHC)
• The Scottish and Northern Ireland Plumbing Employers Federation (SNIPEF)
• Unite the Union

The scheme currently has more than 600 employers and out of an employee membership totalling over 38,000, there are 5,900 who are actively contributing.

We currently operate a pension scheme open to all employees within the industry (not just plumbers), offering benefits based on career average earnings.

Although the basic contribution rate is 3.75% of gross earnings for an employee and 7.5% for an employer there are tax savings. All employees will receive full tax relief on contributions paid whilst employers’ tax relief is calculated on an individual basis. This saving together with a reduction in National Insurance contributions payable means that in real terms the net contribution rate can be reduced to less than 2% for an employee and less than 3.5% for an employer.

Full details of how the Scheme works can be found in our ‘Scheme Guide’, should you wish to view please click on the link below.


2009 Actuarial Valuation
At a recent meeting of the Board of Plumbing Pensions (UK) Ltd (the trustee of the Plumbing and Mechanical Services (UK) Industry Pension Scheme), the Directors were pleased to approve the latest actuarial valuation of the Scheme as at 5 April 2009. In spite of difficult investment conditions since the time of the previous report in 2006, the valuation showed that the Scheme was still fully funded (with no deficit on an ongoing basis).

Secretary and Pensions Manager, Robert Burgon commented that “this is an excellent outcome which shows that the Scheme continues to be in good shape and that we have sufficient assets to meet our liabilities”.


Summary Funding Statement
The Scheme Trustee is required to provide members and beneficiaries with an annual summary funding statement. The latest statement (which refers to the 2009 actuarial valuation) can now be viewed by clicking on “Summary Funding Statement”.


Downloads
> Annual Members Update 2011 (pdf)
> Annual Report 2011 (pdf)
> Your guide to the Plumbing Industry Pension Scheme (pdf)
> Summary Funding Statement (pdf)