Request ID: FOI-0012-2425 Date published: 17 April 2024
You asked
Under the FOI could you supply me with the following information.
1.How many employees are employed by TfL on full time PAYE contracts.
2. How many employees at TfL are on final salary pension contracts.
3. How is the TfL pension contributions funded.
4. Are funds for future pension payment to employees paid from the TfL expenditure budget or to meet this liability, is financial provision set aside on a monthly basis and paid into a separate pension fund.
We answered
TfL Ref: FOI-0012-2425
Thank you for your request received by Transport for London (TfL) on 2nd April 2024 asking for information about TfL employees and pensions. Your request has been considered in accordance with the requirements of the Freedom of Information Act and our information access policy.
I can confirm that we hold the information you require. Your questions are answered in turn below (please note, the information to respond has come from different areas of TfL, hence the slight difference to the dates to which the answers to Questions 1 and 2 relate):
Question 1. How many employees are employed by TfL on full time PAYE contracts.
Answer: All TfL employees are contracted via PAYE contracts. As at 2nd March 2024, the total number of permanent staff at TfL was 25,662
Question 2. How many employees at TfL are on final salary pension contracts.
Answer: All employees on a permanent contract are eligible to join the TfL Pension Fund. As at 31st December 2023 there were 25,977 members of the Fund
Question 3. How is the TfL pension contributions funded.
Answer: Employees pay 5% of contributory pensionable salary while the employer pays 27.3% of contributory pensionable salary
Question 4. Are funds for future pension payment to employees paid from the TfL expenditure budget or to meet this liability, is financial provision set aside on a monthly basis and paid into a separate pension fund.
Answer: Contributions are deducted through the payroll from employees every pay period and are paid over to the Pension Fund together with the corresponding employer contribution. Pension payments to members who have retired are then paid from the Pension Fund.
If this is not the information you are looking for please do not hesitate to contact me.
Please see the attached information sheet for details of your right to appeal as well as information on copyright and what to do if you would like to re-use any of the information we have disclosed.
Yours sincerely,
David Wells FOI Case Officer FOI Case Management Team General Counsel Transport for London
