Thales Transport And Security Section Of The Railways Pension Scheme

From RMT General Secretary Bob Crow

I refer to my previous Circular NP/205/13, 5th August 2013, please be advised that Thales managements proposal to increase member contributions midway through a triennial valuation has been rejected by the Railways Pension Scheme Trustee Board.

This is clearly good news for all members of the Thales Pension Scheme who were affectively facing a pay cut had managements shameful proposal been accepted by the trustees. In consideration your General Grades Committee made the following decision on 10th October 2013:

“That we note the latest correspondence from Thales, confirming that the company’s attempt to increase members’ contributions has been rejected by the Railways Pension Scheme Trustee Board.

This Union has previously challenged Thales regarding this matter; making it crystal clear that their proposals were completely unacceptable as it was only a short time ago a ten year recovery plan was agreed with a joint contribution rate of 29.7% [employer 17.82%, member 11.88%].

Accordingly we instruct the General Secretary to continue to monitor the situation as the date of the next Triennial valuation will be 31st December 2013.

Branches and Regional Councils to be advised with our Thales members being advised by personal letter via post.”

I will keep you informed of developments.