Rates of Pay & Conditions of Service 2012 – South West Trains
I am in receipt of correspondence from the company in regard to pension contributions. This correspondence has been considered by the GGC which has taken the following decision:-
“That we note the report from our Regional Organiser and the correspondence from South West Trains that can be found on file.
Accordingly we instruct the General Secretary to inform the company that we agree that the increase in pension contributions planed from July 2013 should include revised rates of pay arising from the October 2012 pay award.”
In light of this decision, the company has been advised of our acceptance of this increase to the pension contributions. For clarification purposes, please see the following quote from the company's correspondence:-
“As you know the assessable pay for pension contributions is normally taken as at 1st April each year however, we will not have any new rates of pay that may be agreed for the October 2012 pay review introduced in time for the 1st April 2013 assessment. So not to put an added strain on the SWT section of the pension scheme, SSWT’s position is that the revised rates of pay based on the 1st October 2012 increase will, once agreed, be applied to pension contributions from 1st July 2013 even though these will not be in payment on 1st April 2013.”
I would be grateful if you bring the contents of this circular to the attention of your members.