The Railways Pension Scheme 2016 Actuarial Valuation Results

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My Ref: MRP 1/8/1                                   1st November 2017
 
                                            Circular Num: NP/176 /17

To: The Secretary All Branches & Regional Councils

Dear Colleagues,

The Railways Pension Scheme 2016 Actuarial Valuation Results

As you may be aware the draft results of the 2016 actuarial valuation of the Railways Pension Scheme were published earlier this year.  However, it has been brought to the attention of the RMT that following a recent Train Operating Company (TOC) Company Council meeting that The Pension Regulator has taken an interest in the assumptions used for the valuation in respect of TOC sections.

While there was little information given at this meeting it is this union’s understanding that The Pension Regulator’s interest could delay the conclusion of the valuation, and indeed ultimately change the results.

I would advise you that I have written to the Chairman of the RPS Trustee Board, and the Chief Executive of The Pension Regulator requesting further information in respect of this intervention.

I will keep you informed of developments.
 
Yours sincerely,

 

Mick Cash
General Secretary