LONDON (dpa-AFX) - Rolls-Royce Holdings Plc has finalized a 4.3 billion pounds or $5.8 billion transaction to transfer its UK pension scheme to Pension Insurance Corporation Plc (PIC), marking a significant step in the engineering giant's strategy to streamline its operations and reduce financial risk, according to several media reports.
The agreement reportedly encompasses the full scope of Rolls-Royce's remaining pension obligations. The buy-in deal secures the retirement benefits of approximately 36,000 scheme members, effectively shifting the long-term liabilities from the company's balance sheet to the specialist insurer.
The reports said that the move reflects Rolls-Royce's broader efforts to simplify its business structure and focus on core operations, particularly in aerospace and energy systems. By transferring the pension fund, the company aims to enhance financial resilience and reduce exposure to future market volatility.
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