Fund Transport for London

RMT calls on Mayor to scrap TfL’s ‘cash for cuts’ executive bonus scheme

RMT calls on Mayor to scrap TfL’s ‘cash for cuts’ executive bonus scheme for attacking keyworkers jobs, pay and pensions

TUBE UNION RMT has written to London Mayor Sadiq Khan calling on him to scrap Transport for London’s £12 million executive bonus scheme which will see senior staff rewarded for their success in delivering the government’s attack on heroic keyworkers’ pay, jobs and pensions.

Denouncing the scheme as ‘disgusting’ and ‘nothing more than cash for cuts’, RMT General Secretary Mick Lynch said:

Video: Regional Organiser responds to Tube bosses 'cuts wish-list'

RMT Regional Organiser John Leach discusses London Underground's 16 page 'cuts wish-list' and the action RMT is taking to fight back.

John Leach explains in the video "You've been heroes through the pandemic, you do a fantastic job and it is absolutely wrong that now, coming out of the pandemic TfL / London Underground want to put all that in jeopardy [by making cuts]."

RMT view that the TfL Pension Fund is well funded is now confirmed

Dear Colleague,

TFL PENSION FUND - INDEPENDENT REVIEW

I refer to my previous email, 11th September 2021, as the RMT has been maintaining since the Independent Review of the TfL Pension Fund was announced it is our view, based on actuarial advice, that this final salary pension scheme is well funded and not in a position where our members benefit need to be reduced or their contributions need to increase.

Video: TFL pension fund attack explanation

Steve Heldey

Dear Colleague,

TFL PENSION FUND - INDEPENDENT REVIEW

I refer to my previous email of 17th September 2021, please find the following link in respect of the TfL Pension Fund and while this union believes that we must fully protect our members past and future occupational retirement benefits.

https://youtu.be/95cY4ut5PMQ

I will keep you advised of future developments.

Yours sincerely,

Michael Lynch
General Secretary