The Railway Pension Scheme

retiring soonThe Railway Pension Scheme is an excellent scheme, however some of the features of the scheme e.g. BRASS, indefeasible rights, transfers between sections of scheme, and level pension options at point of retirement, presents the need for specific retirement planning advice. I'm sure many of you have had your pension & BRASS statement reviewed by an adviser who has commented "that's a good scheme" but has been unable to provide or recommend suitable advice.

The Railway Pensions staff are extremely helpful and exceptionally well informed, however they can only offer factual information on your enquiry and are unable to recommend any specific action.


Pension legislation changed in April 2015, enabling much more flexibility in the way you can access your pension benefits. Under this legislation you will be able to transfer some types of pension into a flexible type arrangement allowing you access to the full value of your funds. Whilst this may seem attractive and may be suitable for a very small number of people, we do not believe that this would be suitable advice for the majority.

There are a number of Pension adviser/ transaction firms (some are unregulated) targeting employees to transfer their benefits away from the railway pension, we would certainly advise caution and to take proper Independent advice from a reputable firm before considering such a transaction.

Advice at retirement or accessing benefits

We are happy to provide advice at the point of retirement whether it be selecting your options or providing investment advice. 

Please contact us on Tel 0131 663 9919 or click here to email us. 


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OnTrack Financial Planning Ltd. is authorised and regulated by the Financial Conduct Authority FCA Firm Number: 566312
Registered in Scotland, Registered No.SC406825, Registered Address: 6 Wallace Brae Grove, Reddingmuirhead, Falkirk, FK2 0FF.