to know that help is always at hand if required.
One telephone call or e-mail and the problem
is dealt with by the professional staff at
The Scheme can no longer accept new employers.
The Plumbing & Mechanical Services (UK) Industry
Pension Scheme is an industry-wide scheme for employers
in the plumbing and mechanical services throughout the
United Kingdom. The Scheme is a defined benefit scheme
– technically known as a career average scheme.
It is not a final salary scheme. Contribution rates
are defined in an agreed ratio between employees and
employers and at the end of each tax year will provide
a Pension Credit equal to 1.25% of total gross earnings
for each contributing employee on the Basic or 2017 Benefit Scales. View our online Scheme Guide or our Summary of the Scheme’s Benefit Scales for more details.
Employers Guide to Operating the Pension Scheme
Please find attached an A to Z guide which is designed to assist all employers in their operation of their Pension Scheme.
Membership of the scheme is not restricted to plumbers
as many people believe, it is in fact open to ALL employees
within the industry, including office staff and other
trades employed by a plumbing company. If you are employed
within the Industry, aged 16 or over but are under age
65 and your employer participates in the Scheme then you are eligible to join the Scheme. Membership
is not open to the self-employed, it can however include
directors if firm is "limited".
Members contribute a fixed percentage of their earnings and employers contribute twice the member contribution rate. The contribution rates vary between Benefit Scales. The Scheme's contribution rates will be increasing in April 2017 and April 2018.
Employer help pack for the new 2017 benefit scale
From 6 April 2017, employer and employee contribution rates will increase. Follow this link for further information. An employer help pack is available to guide you through the consultation process if you wish to move your employees onto a cheaper benefit scale, for example from the Basic to the new 2017 Benefit Scale. Please contact us for a copy of the help pack.
For Key Employees
Although most scheme members will join the Basic or 2017 Benefit Scales
there is the facility available for employers to arrange
payment of contributions at a higher level for key employees.
If you are required to file UK accounts and you use Financial Reporting Standard (FRS 102), the reporting requirements have recently changed. We have produced an employer fact sheet to help you record your pension obligations in your company accounts. The fact sheet is available on request.
Employer Newsletter July 2017
This employer update contains important news about the Plumbing & Mechanical Services (UK) Industry Pension Scheme.
When an employer in a multi-employer scheme has a cessation event, under UK law, the employer is liable to pay a Section 75 Employer Debt. It may be possible in certain circumstances to reassign an employer's liability to pay a Section 75 Employer Debt to another paticipating employer in the Scheme using a Flexible Apportionment Arrangement.