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Simply meeting people’s financial needs
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Our history

At-a-glance

  • We've been around since 1942
  • We've been providing simple financial products for over 70 years
  • We're not-for-profit - always have been, always will be

It started with a stamp

B&CE began by creating simple financial products to meet people’s needs. That’s how we’ve run our business ever since.

In 1942, unions and employer federations created us because construction workers – who tended to move jobs frequently – needed a way to build up holiday pay. We launched a scheme that was simple but effective for workers, and hassle-free for employers.

We’ve grown by responding to people’s needs

Every week a construction worker would buy a stamp to stick on a card. Then they’d cash in the card to give themselves money to live on when they took a holiday. This was not too far from the idea of a pension. And so began the B&CE story.

Over time, construction workers needed more than just a holiday pay scheme. So we created more financial products and grew our membership – always making sure people got the product they needed. When the construction industry needed a workplace pension, we created one.

And when we saw that working people in other sectors also needed a high quality workplace pension, we knew exactly what to do: we created The People’s Pension.

A rich heritage

With a wealth of experience behind us, we’re now looking for more ways to meet the needs of working people in construction and other sectors, with simple, good value products and benefits.

Discover where we came from...

View our history timeline »

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