About TfL Pension Fund

Trustee Board

The Fund is managed by 18 Trustee Directors (the Trustees).

The Directors of TfL Trustee Company Limited (the Trustee) are responsible for the running of the Fund. Trustee is a legal term that refers to a holder of property on behalf of a beneficiary – in this case, you and all of the members of the Fund. 

The Trustee Directors are nominated by the employer, the Trades Unions and by members. The Trustee Directors are legally obliged to safeguard members’ interests. They must also be able to demonstrate that they are knowledgeable and have had sufficient training to carry out their duties. 

Role of the Board

  • To act in the best interests of the Fund's members and beneficiaries
  • To act impartially, prudently and honestly
  • To invest the Fund's assets to obtain the best long-term return without putting the Fund at undue risk. Independent specialist investment managers carry out day-to-day investment on the Trustees' behalf
  • To make sure the Fund is administered according to the Trust deed and rules of the Fund below

Board nominations

  • Nine Trustees are nominated by the principal employer. At least five of the nine must be members of the Fund
  • Five Trustees are nominated by the trades unions
  • Four Trustees are nominated by members through the TfL Pension Consultative Council, including two who are pensioners or deferred pensioners

The current Board

Employer Nominated
Mercillina Adesida
Nominated by:
TfL
Appointed on:
June 11, 2021
Maria Antoniou (Chair)
Nominated by:
TfL
Appointed on:
March 16, 2007
Trish Ashton
Nominated by:
TfL
Appointed on:
December 9, 2016
Tom Cunnington
Nominated by:
TfL
Appointed on:
July 9, 2021
Mark Evers
Nominated by:
TfL
Appointed on:
December 7, 2018
Rebecca O'Donnell
Nominated by:
TfL
Appointed on:
July 5, 2019
Chris Reader
Nominated by:
TfL
Appointed on:
September 23, 2022
James Terry
Nominated by:
TfL
Appointed on:
March 3, 2023
Julian Thirlby
Nominated by:
TfL
Appointed on:
September 23, 2022
Member Nominated
Finn Brennan
Nominated by:
Trade Union
Appointed on:
March 27, 2020
Lewis Brown
Nominated by:
Trade Union
Appointed on:
December 7, 2010
Stephen Ellaby
Nominated by:
Trade Union
Appointed on:
June 11, 2016
Sonja Folarin
Nominated by:
PCC
Appointed on:
March 29, 2019
Paul Kilius-Smith
Nominated by:
PCC
Appointed on:
March 28, 2014
John Leach
Nominated by:
Trade Union
Appointed on:
June 9, 2022
Chris Miller
Nominated by:
PCC
Appointed on:
March 24, 2005
Paul Murphy
Nominated by:
PCC
Appointed on:
June 12, 2008
John Timbrell
Nominated by:
Trade Union
Appointed on:
March 11, 2002