The Railways Pension Scheme: Valuations at 31 December 2016

The latest actuarial valuations for the shared cost sections of the Railways Pension Scheme (the ‘RPS’) are being carried out as at 31 December 2016. While there has been a plethora of recent newspaper headlines lamenting an apparently astronomical increase in deficits across DB schemes in general, the RPS is - as ever - a little different. Funding levels may therefore not be as bad as might have been feared.
In this Insight we explore the approach which the Trustee and Scheme Actuary intend to take to setting assumptions, the likely impact on deficits for different sections, and some of the options available to employers to address the valuations.
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