The Older Person’s Freedom Pass is paid for by London’s 32 boroughs and the City of London Corporation.

The cost of the scheme is expected to rise by almost 12% in the next financial year, from almost £333m in 2025-26 to around £372m in 2026-27.

Documents from London Councils’ Transport and Environment Committee meeting from December showed that if the Freedom Pass were to only cover bus journeys in London it would lower the cost to London’s councils of providing the scheme by more than £100m a year.

Concessionary travel schemes in most other areas of England only cover buses.

Separate to the Freedom Pass, Transport for London pays for another scheme called the 60+ London Oyster card that provides the same benefits for people over the age of 60, until they become eligible for the Freedom Pass.

London Councils said that a range of options would be considered later this year, but any changes to the Older Person’s Freedom Pass scheme would require full public consultation and may require changes in legislation.