Pensions

From Bob Crow, General Secretary ...

Dear Colleague,

I am writing to bring you up to date with developments in regard to the TfL Pension Fund.

Actuarial Valuation

The results of the latest valuation of the Fund have recently been concluded. The valuation, as at 31st March 2009, assesses whether or not there are sufficient assets to pay for pensions already promised to existing pensioners, deferred pensioners and active members, and also sets employer contribution rates necessary to fund future benefits after the valuation date.

From Bob Crow, General Secretary ...

Dear Colleague,

I am pleased to be able to advise members that the issue of ill-health pensions payable from the TfL Pension Fund has been resolved.

Our London Transport members will recall that in 2006 RMT started fighting a lone rear-guard action against management’s attempts to undermine the very valuable ill-health arrangements offered by the TfL Pension fund. Management wanted to turn the qualification for an ill-health pension from an ‘own job’ test to an ‘all work test.’

London Overground is changing the way employees pay contributions into its pension system (the RPS) by introducing an arrangement known as ‘salary sacrifice’. Under the old system, you were paid your salary with your pension contribution deducted from it. Under this new system, your salary is reduced by the amount of the pension contribution and the employer pays your contribution direct to the fund. What’s the difference?

IMPORTANT ELECTION - TFL Pension Fund - Pensions Consultative Committee

RMT members are supporting Mark Harding and Linda Martin in this important election. Mark has sat on this committee for many years and needs your support. Linda is committed to defending your pension and will make an important contribution to this committee.

Please use both your votes

VOTE

Mark Harding X Linda Martin X

PLEASE PLACE THE ATTACHED POSTER ON NOTICE BOARDS

From Ted Richardson, Secretary, London Transport Retired Members' branch ...

My report is fairly short due to the fact that I suffered a blackout during the course of the Conference and had to return home for medical treatment. ...