18th April 2019 Kate Payne comments in Pensions Expert on the Railways Pension Scheme Deficit
The Work and Pensions Committee has written to the Pensions Regulator over what it called the “staggering, parlous state” of the £25.5bn Railways Pension Scheme.
The letter comes on the back of transport contractor Stagecoach’s disqualification from three government rail contracts due to the extent of its pension liabilities under the RPS.
Kate Payne commented on how the underfunding of pension liabilities in the rail sector is highly political. She noted that most employers in the RPS are in a shared cost scheme, where members must meet 40 per cent of the costs.
Read Kate Payne’s comments in Pensions Expert here.
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