Question to the Department for Transport:

To ask the Secretary of State for Transport, which sections of the Railways Pension Scheme are operating in deficit; and when he expects the next valuation of the Railways Pension Scheme to be carried out.

The latest triennial valuation of the Railways Pension Scheme (RPS) carried out as at 31 December 2013 has yet to be finalised. To date, proposals for 82 of the 104 Sections of the RPS which require a valuation have been approved by the Trustee of the RPS, who has overall fiduciary responsibility for the effective operation of the RPS. Where deficits were shown employers of these sections have agreed a suitable recovery plan with the Trustee to make good the deficits.

The next valuation of the RPS will be carried out as 31 December 2016, with the indicative results expected to be provided to sponsoring employers in Spring 2017.

For further information regarding the RPS and 2013 Valuation please contact the Company Secretary, Railways Pension Trustee Company Limited, 7^th Floor, Exchange House, 12 Exchange Square, London EC2A 2NY.