Our heritage
A history of helping people build financial foundations for life.
80 years and counting
That’s how long we’ve been helping people lead financially stronger lives – providing straightforward products people can trust.
We’re a profit for people organisation. As a business without shareholders, we reinvest our profits to help customers and achieve better financial outcomes for everyone.
We’re one of the largest workplace pension providers in this country and help 1 in 5 UK workers aged 22+ with a workplace pension save for their retirement.
Our members’ savings continue to grow
As the UK’s largest independent master trust, we’re now responsible for looking after pension savings exceeding £30bn.*
This highlights our strength and reliability as one of the UK’s leading pension providers. As we continue to grow, we will continue to develop our expertise and investment solutions to continue building a long-term financial future for all our members.
*All figures correct as of October 2024.
1942
It started with a stamp
Created by unions and employer federations, we began by helping construction workers to build up holiday pay with a simple stamp system. By the 1950s the scheme had already helped over 1m workers during a time when employee benefits such as this were hard to come by. Our innovative and pioneering approach has held true for over 80 years and is what our company has become known for.
Created by unions and employer federations, we began business by helping construction workers to build up holiday pay with a stamp system. Our pioneering approach has held true for over 80 years and is what our company has now become known for.
1963
Movers and shakers
This was the year we made our lasting move from London to Crawley. It’s been 60 years since we made Crawley our home, where we’ve built strong connections – not just in terms of being a major employer but also through volunteering and funding initiatives to benefit the local community. We now employ over 600 colleagues based across 2 buildings in Manor Royal Business District, and we’re still growing today.
This was the year we made our move from London to Crawley. We now employ over 600 colleagues based across 2 buildings in Manor Royal Business District, and we’re still growing today.
1975
Building on our products
In the 70s there was very little health and safety provision for workers in the building industry, and life cover in particular was a rare benefit. We identified this need and introduced a group life protection scheme to make sure people were protected. Meanwhile, this decade saw computers making their way into office spaces, including ours.
In the 70s there was very little health and safety provision for workers in the building industry, and life cover in particular was a rare benefit. We introduced a group life protection scheme to make sure people were protected.
1982
Shaping the future
We introduced our first long-term savings product, the Lump Sum Retirement Benefit Scheme. Employers contributed so their staff could take this benefit when they turned 65. Employees also had the option to make additional contributions to grow their savings. For the first time, our members could take control of the pension they received. This scheme was unique in the UK and ensured that workers took a 100% tax-free lump sum at retirement. This was money they could rely on to plan for the future.
We introduced our first long-term savings product, the Lump Sum Retirement Benefit Scheme. This scheme was unique in the UK and ensured that workers took a 100% tax-free lump sum at retirement. This was money they could rely on for their future.
1987
A construction boom
The 1980s saw a rise in construction in the UK. During this building boom, we were building products to protect the workforce who were mobilising this national effort. We released our group accident protection scheme, providing affordable cover for construction employers to protect their workers in case of injuries. Ultimately, we replaced these products and the increases we made to the new schemes, were drawn from our own profits and without raising members’ premiums.
We released our group accident protection scheme, providing cover for construction employers to protect their workers in case of injuries. The increases we made to new schemes were drawn from our own profits and without raising members’ premiums.
1988
Eyeing up the world of pensions
This was the year we launched our own contracted-out pension scheme (COPS). The B&CE COPS was specifically for the construction industry. Designed for workers who had contracted out of the State Pension, our scheme allowed members to channel part of their employer's and their own National Insurance contributions into their pensions to help them save for their future. This personal pension product ran for 34 years, serving more than one generation of construction workers.
This was the year we launched our own contracted-out pension scheme (COPS) which was specifically for the construction industry. This personal pension product ran for 34 years, serving more than one generation of construction workers.
1990
Ethos and identity
In the 90s we established the B&CE Charitable Trust for people in the construction industry who had fallen on hard times and it has been part of our identity for 30+ years. It offers grants to individuals and works with organisations who share our passion for improving people’s lives. In this decade, we also made annuities available on small pots that some savers couldn’t access because of their size. This was an opportunity to do the right thing for our customers, so we did.
In the 90s, we established the B&CE Charitable Trust and it’s been an integral part of our identity for 30+ years. We also made annuities available on pots of any size. This was an opportunity to do the right thing for the members, so we did.
2001
Simple and affordable
We launched our EasyBuild Stakeholder Pension Scheme, specifically designed for people working in the construction industry. It became the largest scheme of its type in the UK, giving over 1m workers access to a simple and affordable pension and encouraging them to save for retirement in a way that hadn’t been available to many. In the new millennium, we continued to create products and solutions to help an industry of pension savers, and not just those employed in the construction industry.
We launched our EasyBuild Stakeholder Pension Scheme. In the new millennium, we continued to create products and solutions to help an industry of pension savers, and not just those employed in the construction industry.
2012
An olympic level achievement
Auto-enrolment legislation came into force, ensuring every employer of a size in the UK had to offer their workers a pension scheme. This was a pivotal moment for us. We realised our expertise and our mission to improve the industry, placed us to step forward and serve all sectors in the UK. We realised our greatest achievement so far, The People’s Pension. 10 years later, we’re helping more than 6m members, from around 100,000 different employers, to save over £17bn for their future.
Auto-enrolment came into force and we realised our expertise placed us to step forward and launch our greatest achievement so far, The People’s Pension. 10 years later, we’re helping more than 6m members to save over £17bn for their future.
2016
New choices, big decisions
‘Pension freedoms’ legislation meant more choices for how people used their savings. In 2016 we launched our research ‘New Choices, Big Decisions’ to look at how people chose to access their pension. We have tracked those people and use what they teach us to build products and services that will benefit all savers. We had emerged as a key player in the industry, committed to using our size for good. In coming years, we would use this research to influence the debate and to drive change.
‘Pension freedoms’ meant giving people more choices for how they used their savings. In 2016, we launched our research ‘New Choices, Big Decisions’ to look at how people accessed their pension. We use this research to influence and drive change.
2019
Profit for people
All pension providers charge an annual fee to manage a member’s pension, and the size can have an impact on people’s savings. As a result of our scale and focus on delivering value, in 2019 we started building a revised structure which gave rebates on members’ charges. It’s based on the size of a member’s savings, so the more people save, the more they get back. Today our management charge rebate gives back over £1m a month to members of The People’s Pension.
As a result of our focus on delivering value, in 2019 we started building a revised structure which gave rebates to members on their charges. Today our management charge rebate gives back over £1m a month to members of The People’s Pension.
2020
Committed to doing the right thing
As a company with no shareholders, we are free to choose how to use our profits. So in 2020 we switched the remainder of those still invested in our legacy EasyBuild product into our lower cost The People’s Pension. Even though this meant a reduction in revenue for us, it was the right thing to do for our members as it supports their efforts to save for their futures, and is in line with our profit for people culture.
We switched the remainder of those still invested in our legacy product into our lower cost The People’s Pension. It was the right thing for our members as it supports their efforts to save for their futures as part of our profit for people culture.
2021
Always standing for equality
We campaign to give all the chance to retire as planned. We asked government to broaden the inclusion and chances for people to invest in pensions. We’ve created simplicity in pensions by making communications available in braille, large print and multiple languages. The tools we give our members help them work towards better savings and a better future. The People’s Pension removed £226m of investment from companies that didn’t meet our environmental, social, and governance standards.
We campaign to give all the chance to retire as planned and asked the government to broaden the inclusion for people to invest in pensions. The People’s Pension removed £226m of investment from companies that didn’t meet our governance standards.
2022
Doing things differently for the right reasons
Now called People’s Partnership. We’ve always been the people’s partner, so this change made sense for us. Our new name recognises the importance of the partnership we have with our members. In 2022 we’re celebrating 80 years of providing straightforward, accessible, trusted products and support that help people become financially stronger. Put simply, our company was set up and continues to exist to serve our customers.
Now called People’s Partnership. We’ve always been the people’s partner, so this change made sense for us. We’re celebrating 80 years of providing straightforward, accessible, trusted products that help people become financially stronger.
Find out how we're making a difference today
We conduct our own research, campaign for policy change and help to shape the pensions industry.
Read about our latest endeavors & insights in our media centre.
Roots in construction
Some products are still under People’s Partnership’s former name – B&CE.
A pension with soul
Find out what makes the workplace pension we provide different.
How we give back
We think it’s important to contribute to people & communities who need support.