Sir Peter Hendy and Fares (2)

MQT on 2014-11-19
Session date: 
November 19, 2014
Question By: 
Richard Tracey
GLA Conservatives
Asked Of: 
The Mayor


Given Peter Hendy's strongly held view that fares should be held down as much as possible, and the need to make significant savings from TfL's budget in order to achieve this, can you confirm that TfL's gold plated pension pot will be brought into line with the public sector average to save upwards of £150 million per year?


Answer for Sir Peter Hendy and Fares (2)

Answer for Sir Peter Hendy and Fares (2)

Answered By: 
The Mayor

The way the TfL Pension Fund is set up currently limits the scope for making changes; it is governed by a Trust Deed and Rules and not through statute like most other public sector pensions. Legislation would be required to give us more control over the scheme. TfL is in active discussion with the Government about a range of issues around pensions.