The Railways Pension Scheme has nearly 340,000 active and retired members and represents more than 150 rail companies. Commonly known as the RPS, it is one of the UK’s largest pension arrangements.
You may be eligible to join if your employer has a section in the RPS.
The RPS is divided into the 1994 Pensioners Section, Shared Cost Arrangement, Defined Benefit Arrangement, Defined Contribution Arrangement, Omnibus Section, and Industry-Wide Defined Contribution Section.
Employers may set up more than one arrangement in the Scheme and more than one section of the Shared Cost Arrangement.
There are several advantages to the RPS:
The RPS was set up on 1 October 1994 during privatisation of the railway industry, when all members and assets in the former BR Pension Scheme were transferred over.
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