About TfL Pension Fund

Stephen Field

Stephen heads up the executive of the TfL Pension Fund and started his career in the former London Transport Superannuation Fund office (now the TfL Pension Fund Office) and has since been employed in the pensions industry for more than 38 years. 

He has held senior pensions positions within a number of companies, including Centrica Plc where he undertook a number of important roles during his 6 years there, culminating in that of Group Pensions Manager. 

This was followed by a period with The Automobile Association, where he was Group Pensions Manager, a position he held for over 3 years and where he had responsibility for the provision of pension benefits and the governance and control of investments of the company’s benefit scheme.  

Stephen rejoined TfL as Head of Pensions and Fund Secretary in January 2008 and in 2013 was promoted to Director of Pensions & Reward and Fund Secretary.  He is a Trustee of the TfL Savings for Retirement Plan and a member of the management committee of the British Transport Police Superannuation Fund. 

Stephen is a Fellow of the Pensions Management Institute. 

Tim has worked for TfL since August 2008 and in his role as Head of Pensions responsible for the day-to-day operations of the Pension Fund Office providing services to the Fund Members. 

Tim has 38 years’ experience working in the pensions industry having held senior roles working on other large in-house defined benefit pension schemes, including Kingfisher plc where he was Pensions Operations Manager.  He is a Trustee of the Tube Lines Pension Scheme.  

Tim is an Associate of the Pensions Management Institute. 

Chief Investment Officer (CIO) 

Padmesh Shukla is CIO of £14 billion TfL Pension Fund where he has delivered major changes from diversifying the Fund’s bond and equities portfolio to building its large alternatives programme. 

He also leads the Fund’s sustainability and engagement strategy in the Fund Office and is working on the delivery of the Fund's ambitious Net Zero targets. Emerging markets and climate change are of particular interest to him, having previously worked at the World Bank and the Centre for International Development.  

He went to Harvard University on full scholarship for his Masters in International Economics and Development (major in Finance) and has a Bachelors in Civil Engineering.  

He sits on the UK CFA Asset Owner Council and is also an independent investment committee member of the Church of England Pension Scheme.