B&CE began 80 years ago by providing holiday stamps to construction workers during the Second World War.

Today its primary product is its pension scheme, which was rebranded in 2011 as The People’s Pension.

Changing the name from B&CE to People’s Partnership is to bring it into line with its pension scheme branding.

With more than £17bn assets under management and serving more than 100,000 employers across the UK – not just in construction – it has grown to become one of the biggest pension schemes in the country.

Chief executive Patrick Heath-Lay said the name change reflects the fact the organisation now serves other industrial sectors.

“We have always been the people’s partner,” he said. “Founded for social good, as a not-for-profit – or profit for people – organisation, our customers, our members, are always our main focus. And whatever we do, that will never change. Our purpose is to help people, from all sectors across the UK, to build financial foundations for life, giving greater financial security to millions.

“So, this isn’t just a name change. For a company that has gone about its business fairly quietly in the past, this is a statement of intent. We want everyone to understand why and how we do what we do and to continue to be different in financial services.”

The B&CE name will be retained for products provided solely for the construction industry, including B&CE Charitable Trust.

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