RMT launches campaign to defend TfL pension scheme

RMT launches campaign to defend TfL pension scheme

3 August 2021

RMT Press Office:

RMT launches campaign to defend TfL pension scheme and declares no confidence in review process.

Transport for London union RMT announced today that it is launching a campaign to defend the TfL pension scheme in the wake of revelations of how the company intend to process and conduct their pension fund review.

Instead of a pension review, RMT is calling for an investigation, with the full involvement of all recognised trade unions, into the systemic transfer of TfL funds to the private sector. Huge sums of money are being siphoned out of the transport system and into the pockets of privateers.

In 2020/21 over £60m was paid to a private cleaning contractor, over £106m was paid to privatised track maintenance contractors, over £30m was paid to external fleet maintenance contractors and a staggering £2bn was paid to privatised bus operators.

RMT is also calling for a review of the level of government support for TfL, which is far less than the support provided to comparable transport systems such as the New York metro or Paris subway.

RMT General Secretary Mick Lynch said:

“RMT will fight any attempt to impose detrimental terms onto our members. We will resist any attempt to make members work longer, increase pension contributions of workers – just a pay cut in disguise – reduce pension payments or undermine the fund in the long-term by closing it off to future staff.

“Our members in TfL kept transport services running throughout the pandemic and were hailed as heroes. Now their reward is the threat of poverty in retirement.

“We have absolutely no confidence in the review process set out, which is no more than a smoke screen for a massive attack on RMT members driven by the government and London Mayor’s agreement to make huge financial cuts on TfL and LUL.

“We reissue our call for all regular TfL work to be immediately brought in-house and for an end to the gravy train of easy profits and dividends to the shareholders of the private sector.

“RMT is demanding that the pension scheme remains unchanged. Any other course of action will be met head on by the union, using every option available to us, including a determined campaign of strike action.”

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Tagged with: Transport for London, TfL, London Underground Limited, Pension, Review,