Protecting your pension

To: All RMT Train Operating Company Members

 

 

Dear Colleague

 

Protecting your pension

 

You may have seen ongoing press coverage relating to the news that Stagecoach have been disqualified from three recent rail franchise bids as a result of them putting in non-compliant bids, in relation to pensions.

 

This has quite understandably raised concerns amongst all our Train Operating Company members in respect of their future pension benefits and I am writing to update you on what your union is doing to protect your pension.

 

Your union is of the view that the railway pension scheme is fundamentally sound and in good shape.  The only reason there now appears to be an issue is a new approach from the pension’s regulator and the government which is threatening the scheme.

 

Ministers have decided that employers will be given financial assistance from the government with any future deficit whilst members of the scheme will still have to meet their share of any deficit in line with the Railway Penson Scheme shared cost arrangement.

           

This is not just an attack on our members future pension rights but also puts in doubt the long-term future of Railway Pension Scheme

 

I can advise you that I have written to Chris Grayling (DfT), the Regulator, all TOC employers and the Rail Delivery Group making it clear that if there is a move to impose reductions in future pension benefits or significantly increase member contributions this union will take the necessary action to defend our members’ pensions.

 

This union will not tolerate the position where Chris Grayling plans to subsidise TOC employer contributions while attempting to raise member contributions and cut benefits.

 

Any such attack will be met with a campaign of coordinated industrial action across the rail industry to defend pensions.

 

This union will resist any attack on our members future pension rights either as a result of government policy or greedy employers wanting to get their share of the failed franchise model.

 

I will keep you informed of developments.

 

Yours sincerely,

 

 

 

Mick Cash

General Secretary