I'm new to the Scheme

Welcome to the Railways Pension Scheme (RPS). Here’s a brief introduction to pensions and the different types within the RPS.

Welcome to the Railways Pension Scheme

By joining the Railways Pension Scheme (RPS), you've taken an important step towards a more comfortable retirement and we've got plenty of information, including videos, tools and guides to help you get the most from your pension.

Within the first few weeks of joining the Scheme, you should receive a welcome letter and leaflet in the post. This will tell you your unique Pension Reference Number and useful details about the benefits of your membership, so keep it safe.

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Your pension with the RPS

Your RPS workplace pension will be one of these 2 types. You can find out which type of pension you have by registering for your myRPS account. Once you log in, go to the Membership Details page.

1. Defined benefit (DB)

A defined benefit (DB) scheme pays you a regular income based on your salary and how long you’ve been a member of the scheme, rather than the amount of money you’ve paid into your pension.

2. Defined contribution (DC)

A defined contribution (DC) scheme builds up a pension pot to be used in retirement. The size of the pot will largely depend on how much you and/or your employer pay in and how much it grows through investment returns. The Industry-Wide Defined Contribution Section (IWDC) of the RPS is a DC scheme.

What do I do now that I'm a member?

The next step is to register for your online myRPS account and follow the link from your account dashboard to your Welcome to the Scheme page. Here, you can:

  • get an overview of how your membership works
  • watch a short welcome video, which tells you more about your membership
  • download your 'Good to Know Guide', which will help you understand more about important pensions topics

To register for your myRPS account, you'll need your:

  • Pension Reference Number – you should find it on your welcome letter
  • National Insurance number
  • Date of birth
  • Email address (use a personal email address if you have one, rather than your workplace one)
If you would like to use a mobile number to log in to your account in the future, you can add one in at the registration stage. This will need to be verified once you've logged in to your account.
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Within your myRPS account, you can:

  • find your Member Guide, which explains your benefits and options in more detail
  • use our tools and modellers to plan ahead for your retirement years
  • tell us who you'd like any cash payment to go to if you die before you take your pension (this is known as 'nominating')
  • look at your Membership Details page to find out which type of pension you have (defined contribution or defined benefit)
  • check or change any funds you invest in (if you're a member of the Industry-Wide Defined Contribution Section or if you pay Additional Voluntary Contributions)
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Manage your pension

The easiest way to manage your RPS pension and actively plan for retirement is to use your myRPS account.

You can get a copy of your Member Guide, ask for estimates, use planning tools, check/update your details... and more!

What to read next...

10 things to know about pensions 

Get to grips with your pension in this handy list of 10 top things to know.

Saving more

Discover how paying Additional Voluntary Contributions (AVCs) could help you boost your retirement income. 

Nominations for death benefits

Tell us who you'd like a cash payment to go to if you die before taking your pension.