The Trustee and RPS Actuary have launched their joint consultation with employers and Pensions Committees, to inform the process, assumptions, and methodology for the valuations.

The Trustee and Railways Pension Scheme (RPS) Actuary are embarking on a valuation of each Section of the RPS, which will have an effective date of 31 December 2025.

These valuations will be subject to a new regulatory regime, which will impact the valuation process. As part of this, the Trustee will need to determine a Funding and Investment Strategy and agree with employers how it is recorded in Part 1 of a new Statement of Strategy document.

Submit your valuation consultation response before Friday 30 January

The Consultation Document is now available, and contains important information about the principles, assumptions and methodology that will inform the draft valuation results next summer.

If you haven’t already, download and review your copy today.

Download your Consultation Document

How to submit your response

There are several ways that you can respond to the consultation before the deadline on Friday 30 January 2026:

📝 Complete our online form

📧 Email your responses to RPSvaluation2025@railpen.com

✉️ Write to RPS Valuations 2025, C/O Connor McGee, Railpen, Stooperdale Offices, Brinkburn Road, Darlington, DL3 3EH

💬 Discuss at your next Pensions Committee meeting (if applicable)

Supporting you through the valuation

Your involvement and engagement with the valuation process is essential. On behalf of the Trustee, the Railpen team is here to help you navigate the process, answer your questions and provide insights to inform the decisions you’ll need to take.

To find out more about the scheme valuation process and what it means for you, contact Railpen’s Client Relationship Management team.