Independent Pensions Review (Barber Review)

About the Review

In 2021 Transport for London embarked on a review of its Pension Fund. This was a demand placed upon it by the UK Government as a condition for the financial support it received on 1 June 2021.

The Government’s demand was that the review should identify and make recommendations about ‘reform’ options, with the explicit aim of “moving TfL's pension arrangements into a financially sustainable position whilst protecting members' benefits built up to date.”

The idea of the review was accepted as a matter to discuss with the DfT in TfL’s Financial Sustainability Plan (published January 2021) and became a condition for the support package.

Subsequently, an Independent Review was established, headed by Sir Brendan Barber OBE - former General Secretary of the TUC.

The Independent Review established a Contact Group with a representative from each of the trade unions recognised by TfL and London Underground (LU). One of the Review’s first actions was to produce its first Call for Evidence, inviting responses from various stakeholders including the trade unions, the Fund’s Trustee, Pensions Working Group and others.

TSSA is opposed to any changes that would be detrimental to our members’ pensions and we made that position clear through the review. Our reps and officials made submissions to the review and took an active role in the Contact Group.

The review made a final publication in March 2022. Among much work, it identified 'no change' as a viable option for the TfL pension fund going forwards - perhaps something the government was not expecting.

You will find the final report and other documentation below.

Back to main TfL pensions page