Circular No. NP/148/08
6th November 2008
Missing Periods of Service - TfL Pension Fund
Further to my circular letter No. 145/08 of 31st October, when management agreed to offer members the opportunity of obtaining missing periods of service they indicated that the offer would be open-ended. It was therefore surprising to see that TfL had included a deadline for responses of 28th November 2008 when the offer letters were despatched.
In an endeavour to remove this unnecessary restriction on members claiming their rightfully pension entitlement, RMT made further representations to TfL concerning the inclusion of this deadline.
I am therefore pleased to advise that management has confirmed that, although the letter contains a return date, this is not a firm closing date and the offer on rectification is not time-limited. They say the reason for including a deadline of 28th November was to ensure that information reached Payrolls in order for payment of member contributions to be made (and spread if necessary) within the current tax year.
Arising from our representations, Management has agreed to ensure all further letters make it clear that this return date is for administrative convenience rather than a firm closing date. In addition, TfL has agreed that arrangements will be made to write again in December to those members who have not responded to the offer by then to confirm this situation.
As a further point of clarification, some members have misunderstood the additional pension benefit derived from payment of the arrears. In this respect I would point out that the amount given as the Estimated Additional Pension is the annual additional pension based on current rates of pay. The value of the additional pension will rise in relation to the actual pensionable salary at retirement and of course will be protected against inflation in the same way as the rest of the pension. The additional amount is therefore considerably more valuable than the actual amounts quoted and members should not be misled or put off from applying because they feel the additional pension is only marginally higher contribution due.
I am sure members will appreciate the greater clarity provided following our representations on their behalf. However, should anyone encounter any difficulties in obtaining credit for their missing years, please do not hesitate to contact Head Office.