Tube pension update

Dear Colleague,


I refer to my previous email of 24th June 2024, as previously reported due to our members resolve to fight to protect their past and future final salary pension rights, management and Government decided to delay their proposal to begin a consultation period in respect of any proposed reform the TfL Pension Fund no later than 1st July 2024.

For the avoidance of doubt, I wish to clarify managements' position in respect of the TfL Pension Fund review as communicated to us on 19th June 2024.

Management have informed us that no consultation will start on 1st July 2024 as previously advised, and that if any reform is proposed, there could be no change to the TfL scheme prior to 30 September 2026 at the earliest.

This announcement to push back any proposal to change our members pension scheme again reflects the determination of LUL members to fight to maintain pension rights in LUL. Our sixth successful ballot in April 2024 during the course of this campaign gave us a new six-month strike mandate which has continued to put pressure on TfL, the Mayor and DfT and has prevented any attacks on our members' pension scheme.

Our LUL Regional Officers will continue to discuss with our representatives and branches across LUL how we can secure a commitment from TfL to take their unjust and unnecessary pension reforms off the table altogether. However, in the meantime it's important that we remain vigilant as managements' reform proposals have not been withdrawn.

I will keep you advised of future developments.

Yours sincerely,

Michael Lynch
General Secretary