Transport for London (TfL) will carry out a review of its pension scheme and reform options with an “explicit aim” of moving the fund into a “financially sustainable position”.
Taxpayers could be forced to fund the £8bn Railway Pension Scheme deficit following the renationalisation of the railway system.
A High Court battle has begun between the government and four railways companies after they were excluded from franchise bids due to their approach to the £27bn Railways Pension Scheme (RPS).
Stagecoach has launched action against the Department for Transport (DfT), claiming it breached its statutory duties in connection with the West Coast Partnership railways franchise when disqualifying the firm over pension funding issues.
The Go-Ahead Group has announced it is revising the accounting policy for its rail pension schemes.