3 March 2025
RMT Press Office:
Tube union RMT, has secured a major victory in the fight to defend the TfL Pension Fund.
Transport for London has now confirmed that there are no plans to change the scheme and that the pension review management team has been disbanded.
This hard-fought success follows years of determined campaigning by RMT members, in the face of a concerted effort by the employer to attack their pensions.
After seven consecutive strike ballots were won, leading to six days of all-grades strike action,
TfL has made the correct decision and abandoned their plans.
Due to RMT's campaign, this means:
- All pension benefits remain intact, continuing to be based on final salary
- Retirement at 60 with no penalties is protected
- Pension increases remain linked to RPI, not CPI
- Any future pension fund shortfall must be covered by TfL—not employees
RMT general secretary Mick Lynch said:
“This is a huge victory for our members who showed tremendous tenacity to stand together to defend their pensions.
"We were told these cuts were inevitable, but our members determination has ensured that these attacks on pensions have been thwarted.
“This win proves that when workers are organised and willing to take strike action, they can defeat even the most determined attacks on their rights and living standards.
"RMT will continue to stand ready to take action to protect our members if any such attacks on pensions or terms and conditions come to pass in the future.”
END
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