MTR Crossrail Pension Proposals
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My Ref: MRP 1/8/118 26th March 2015
Circular Num: NP/51/15
To: The Secretary All Branches & Regional Councils
MTR CROSSRAIL PENSION PROPOSALS
Please be advised that following meetings RMT representatives have had with MTR, the employer who has the contract to run the Crossrail service across London, management have confirmed that they intend to open a new pension section within the Railways Pension Scheme (RPS).
This will result in new employees, and those employees being transferred from Abellio Greater Anglia, membership of a Defined Benefit pension scheme in line with the current RPS arrangements. Management have also confirmed that the MTR Crossrail section of the RPS will be open to new entrants on an ongoing basis.
Management have also proposed that members of the MTR Crossrail section will have the opportunity to elect for a Normal Retirement Age of 65 instead of age 60. In exchange for a later Normal Retirement Age members will pay lower contributions.
It is anticipated that the following contribution rates will apply from December 2015:
• NRA of 60 (default position) - Member 10%, Employer 15%
• NRA of 65 (optional) - Member 8%, Employer 12%
The General Grades Committee in consideration of this proposal on 17th March 2015 adopted the following report:
“We note the report on file from the Regional Organiser in respect of MTR Crossrail’s intention to open a section within the Railways Pension Scheme.
We further note that the section will be an “open section” and will offer the same benefits as those offered by the three Abellio sections of the Railways Pension Scheme.
The General Secretary is instructed to write to management informing them that we welcome their proposal but would request that the full proposal is formally made to the RMT so avoid any ambiguity.
Branches and Regional Councils to be informed.”
In line with this decision I have received from management formally confirmation of their proposals.
I will keep you informed of any developments.