TfL Pensions Options Paper
Overview
In October 2022, TfL published a Pension Options Paper which it also sent to the Government.
The Pension Options Paper is part of the TfL Pensions Review process which the UK Government made a condition of providing funding to TfL through the coronavirus pandemic.
In the Long Term Funding Settlement agreed with the Government at the end of August 2022, TfL were required to adhere to a series of deadlines about reviewing the TfL Pension Fund. This paper meets the second deadline that required TfL to submit two options (and two sub options) for change in order to save £100m from the Pension Fund.
TfL has submitted three options for changing the Pension Fund in respect of future service:
- No change to the existing scheme
- Amend the current Final Salary scheme
- Change the current pension into a CARE (Career Average Revalued Earnings) Scheme
Read TSSA's explainer on the options paper below and access other documents in the block below too.
TfL Pensions Options Paper documents
TSSA Explainer on TfL Pension Fund Options Paper October 2022
DOCUMENT.CATEGORY: Reps' Resources
DOCUMENT.FILESIZE: 23KB
TSSA Explainer on TfL Pension Fund Options Paper October 2022
TfL Pension Fund - Pensions Position Paper 14 OCT 2022 FINAL
DOCUMENT.CATEGORY: Reps' Resources
DOCUMENT.FILESIZE: 1707KB
TfL Pension Fund - Pensions Position Paper 14 OCT 2022 FINAL
TfL Pension Fund - TfL Joint TU Pension Update November 2022
DOCUMENT.CATEGORY: Reps' Resources
DOCUMENT.FILESIZE: 136KB
TfL Pension Fund - TfL Joint TU Pension Update November 2022
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