TfL Pensions Review (1)

Questions to the Mayor of London – answered on 24th May 2022.

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Photo of Caroline Pidgeon Caroline Pidgeon Liberal Democrat

Following the publication of TfL’s independent pensions review, what specific steps have you agreed to take forward? Please set out a detailed timeline for this.

Photo of Sadiq Khan Sadiq Khan Mayor of London

On 28 March 2022, Transport for London (TfL) received the Final Report from the Independent Review into the TfL Pension Scheme which has been undertaken by Sir Brendan Barber with the support of pensions expert Joanne Segars OBE.

The report rightly highlights the complexity of the issues related to pensions reform and there is a lot to consider before determining what the next steps might be, if any. There are currently no proposals for changes to TfL’s pension arrangements. Crucially, the report’s findings must also be discussed with HM Government given the critical role Sir Brendan highlights they would have to play in supporting any reform, should that ultimately be proposed. This is particularly the case given legislation would likely be required, depending on the nature of any proposal. Any reform proposed in the future would be subject to consultation with all stakeholders, including staff and trade unions.