Rejoining Network Rail - Pension and Travel etc ?

[galaxynew]

Hi

I am considering re-joining Network Rail and was wondering if anyone knows how it works regarding your previous service and particularly pension and travel benefits etc?

My railway pension was "froze" when i left but i still receive the annual statement so not sure if i start it again from fresh or it can be unfroze

Thanks in advance.

 

[Tom Quinne]

Pension I think will reactivate upon rejoining, any travel will be lost.

 

[Journeyman]

Pension I think will reactivate upon rejoining, any travel will be lost.

Depends what you did in the meantime. If you have safeguarded travel, moved from NR to a TOC, and then move back again, you'd keep it, but if you've ever lost it, you won't get it back.

 

[galaxynew]

Depends what you did in the meantime. If you have safeguarded travel, moved from NR to a TOC, and then move back again, you'd keep it, but if you've ever lost it, you won't get it back.

It was "non railway" so travel will be lost which i expected and to be honest not that bothered about, was more interested to know what happens to the pension

 

[pdeaves]

more interested to know what happens to the pension

You will be able to:

• Keep the old and start new; or
• Transfer the previous into new [1].

I don't know about a literal 'pick up where you left off'.

[1] That's what I did in a similar situation; obviously I have no idea whether it would be a good idea for you or not.

 

[BallastMonkey]

Anyone know what happens to the pension in an instance where a NR employee moves to a TOC as a trainee driver?

 

[tiptoptaff]

Anyone know what happens to the pension in an instance where a NR employee moves to a TOC as a trainee driver?

You can either freeze it and restart, or you can transfer in if your employers section allows this.

 

[Tom Quinne]

I transferred my TOC contributions to the NWR one and brought years service, however when I moved TOC to TOC prior I did the same but lost years service so overall my actual service doesn’t match my pension years service, it’s off by 3 years thanks to the mistake of moving my subs across previously so becareful.

 

[greatkingrat]

I transferred my TOC contributions to the NWR one and brought years service, however when I moved TOC to TOC prior I did the same but lost years service so overall my actual service doesn’t match my pension years service, it’s off by 3 years thanks to the mistake of moving my subs across previously so becareful.

That doesn't mean you have lost anything, presumably you had a salary increase when you changed jobs? So for example 10 years pension calculated at £40k may come out to the same as 13 years pension calculated at £30k.

 

[Tom Quinne]

My salary dropped when I moved TOC to TOC, but I was 100% pensionable at my first TOC but only 73% at my 2nd.