(qlmbusinessnews.com via standard.co.uk — Fri, 20 Oct 2017) London, Uk —
Millennials could soon be entitled to their own discount railcard offering 26 to 30-year-olds a third off all train journeys.
Train company Greater Anglia Railways will trial a new card for young people from December before the scheme is rolled out nationally early next year, a leaked staff briefing suggested.
A document circulated on a UK rail forum, which appears to have been sent to Rail Delivery Group (RDG) staff, says that the scheme will go national in early 2018.
Greater Anglia Railways will initially offer 10,000 cards, according to Moneysavingexpert.com. The briefing document adds that this will be increased in 2018.
The unverified document also said that the new pass will be based on the existing 16-26 railcard, which gives a third off most fares, the Telegraph reported.
There is likely to be a £12 minimum fare for tickets (other than advanced fares) between 4.30am and 10am Monday to Friday – excluding public holidays and dates in July and August.
The RDG, which represents train companies, has declined to comment on plans for the wider launch, according to the Telegraph.
Similar railcards cost around £30-a-year, with frequent discounts available.
Millennials, which are the first generation to earn less than their parents, are likely to welcome the announcement.
Research published earlier this year showed men born between 1981 and 2000 earn an average of £12,500 less by the time they are 30 than the previous generation.
Millennials are said to fare significantly worse than their parents during their first years of employment, according to research by the Resolution Foundation. Young Brits earned £8,000 less during their 20s than their parents.
A spokeswoman for Greater Anglia said it will be trialling the railcard from December, and said passengers will be able to sign up for it via the Railcard app on Apple or Android.
She said: “We are delighted to be at the forefront of this innovative trial, bringing better value fares and more convenience to rail passengers in East Anglia.”
By Ella Wills