The Railways Pension Scheme celebrates silver anniversary

T4_T13_RPS-25-anniversary

The Railways Pension Scheme (RPS) turned 25 on 1st October 2019.

The Scheme was set up on 1st October, 1994 to replace the old British Rail Pension Scheme (BRPS) following privatisation of British Rail.

The RPS is an industry-wide umbrella pension scheme, made up of a number of different sections serving different employers, each with its own assets and liabilities.

Back in 1994, the Scheme had seven sections, including 1994 Pensioners, British Rail, Railtrack, European Passenger Services, Transmark, Railways Pensions Management and CAMAS UK.

Total assets of £8.4bn were transferred from the BRPS, which had 116,236 active members, 45,267 members with preserved benefits and 138,616 pensioners on 31st March 1994.

Fast-forward 25 years, the RPS now has 112 sections, managing total assets of £26.7bn, which makes it one of the largest pension schemes in the country.

The RPS has thrived over the years thanks to the support of you – its members – as well as its sponsoring employers and Trustee. Thank you for being part of its success and here’s to many more years to come!