FOI request detail

Tubelines Pension Scheme

Request ID: FOI-0210-2425
Date published: 13 May 2024

You asked

Please provide all information regarding the takeover from Tubelines to TFL on the following please; 1. Structure and changes to the Tubelines Pension Scheme between 2010 and 2024 2. Funding to the scheme 3. Changes to the investments, management of the investment portfolio including how, portfolio manager, structure of investment changes 4. Offers to integrate the Tubelines Pension scheme with that of London Underground & TFL 5. Above how this was managed and funded 6. How TFL managed the transfer from 2010 from the PPP Tubelines to the current AON management ensuring that the Equality Act 2010 was complied with to those members of the TFL and LU pension schemes. 7. Any analysis between membership of the Tubelines Pension Scheme members and the LU Pension Scheme and TFL Pension Scheme whether in transfer, overtaking, loss of benefits, funding, shortfalls, or deficits Please can you reply to me personally or notify me of those which TFL have copied please.

We answered

TfL Ref: FOI-0210-2425

Thank you for your request received by Transport for London (TfL) on 16th April 2024 asking for information about the Tubelines pension scheme.

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 some of the information you require. Your questions are answered in turn below:

Question 1: Structure and changes to the Tubelines Pension Scheme between 2010 and 2024

Answer: The Tube Lines Pension Scheme was created following the PPP and is a defined contribution scheme.  There have been no changes to the fundamental structure of the scheme other than the minimum contribution from employees increasing to 2% from 1% to comply with the auto enrolment requirements and other regulatory requirements and investment funds.

Question 2: Funding to the scheme

Answer: The Tube Lines Pension Scheme is a defined contribution arrangement with contributions being paid by employees and the employer invested in individual member pots.  The administration and other running costs excluding investment are paid by the employer.

Question 3: Changes to the investments, management of the investment portfolio including how, portfolio manager, structure of investment changes

Answer: Changes to investment funds available will have been communication at the time of any changes together any impact on charges.  The Annual Report and Accounts of the Tube Lines Pension Scheme includes information on the underlying funds and resulting charges. This information can be obtained via this link: https://tfl.gov.uk/cdn/static/cms/documents/tube-lines-pension-scheme-report-and-financial-statements-31-march-2023.pdf

Question 4: Offers to integrate the Tubelines Pension scheme with that of London Underground & TFL

Answer: With effect from January 2017 current contributing members of the Tube Lines Pension Scheme were offered the opportunity to join the TfL Pension Fund for future service.

Question 5: Above how this was managed and funded

Answer: This was managed by TfL. Note that requests for explanation do not fall within the scope of the Freedom of Information Act.  If further, recorded information is required please clarify.

Question 6: How TFL managed the transfer from 2010 from the PPP Tubelines to the current AON management ensuring that the Equality Act 2010 was complied with to those members of the TFL and LU pension schemes.

Answer: This would have been dealt with as part of the original outsourcing. Again, please note that requests for explanation do not fall within the scope of the Freedom of Information Act. If further, recorded information is required please clarify.

Question 7: Any analysis between membership of the Tubelines Pension Scheme members and the LU Pension Scheme and TFL Pension Scheme whether in transfer, overtaking, loss of benefits, funding, shortfalls, or deficits

Answer: It is unclear what specific, recorded information is being requested, and please note that there is no obligation under the FOI Act for information to be created in response to a request. If recorded information is being requested, please can you clarify exactly what is required.

If this is not the information you are looking for, or if you are unable to access it for any reason, 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

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