Scheme documents

Our Scheme reports, publications and statements provide information about the Scheme, how it's managed and its investment approaches.

Statement of Investment Principles

The Statement of Investment Principles (SIP) details the policies which control how a pension scheme invests.

The SIP sets out the principles governing how decisions about investments are made and has been prepared in accordance with all relevant legislation and best practice guidelines.

It will be reviewed by the Trustee at least every three years or after any significant change in the investment approach.

A brown folder labelled Railways Pension Scheme and Scheme Documents

Report and Accounts

The Report & Accounts is a financial overview of the Railways Pension Scheme, which includes:

  • key Scheme statistics
  • investments
  • membership and net assets for each Section
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DC Chair's Statement

This statement explains how the Trustee Board has met the legal requirements for running the Industry-Wide Defined Contribution Section of the Railways Pension Scheme (the 'IWDC Section') from 1 January 2022 to 31 December 2022.

You can read a copy of the full statement below.

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Taskforce on Climate-Related Financial Disclosures (TCFD) Report

This report explains the governance and actions taken by the Trustee in identifying, assessing and managing climate-related risks and opportunities.

TCFD Report (pdf)
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Sustainable Ownership Member Review

The Sustainable Ownership Member Review highlights the work we have done to incorporate sustainability considerations into the investments we manage on behalf of our beneficiaries. The report is a condensed version of the key points made in the Stewardship Report (see below), addressing the topics and issues that members have identified as most important to them. 

You can read the Sustainable Ownership Member Review 2022 via the Railpen website. You can also read more on our Sustainable Ownership page.

Stewardship Report

The Stewardship Report details Railpen and the Trustee’s approach to ensuring your pension money is managed thoughtfully and sustainably to give you an income in retirement. The report offers an in-depth overview of the Sustainable Ownership efforts undertaken throughout 2022. It includes insightful examples and case studies that help illustrate the progress made at the largest companies that Railpen invests in, as well as news of progress on Railpen’s wider stewardship priorities. For background to Sustainable Ownership, see our Sustainable Ownership page

You can read the 2023 Stewardship Report via the Railpen website. You can also read more on our Sustainable Ownership page.

Net Zero Report

This document is by the Scheme administrator, Railpen. It sets out Railpen's plan to be net zero by 2050 or sooner. It covers both Railpen's investment portfolio and the emissions associated with its own corporate footprint.

You can read the Net Zero Plan 2021 via the Railpen website.

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