Rolls-Royce Holdings plc (LSE: RR., ADR: RYCEY) today announces that the trustee of the Rolls-Royce UK Pension Fund has secured an agreement for a \u00a34.3bn bulk annuity insurance \u2018buy-in\u2019 for the scheme with Pension Insurance Corporation (PIC).\n<\/p>\n
The deal will fully insure benefits payable from the Fund, providing certainty and security for the defined benefit scheme\u2019s 36,000 members. They will have their benefits secured by one of the UK\u2019s largest regulated insurers, with a strong track record of high standards of customer service. <\/p>\n
The deal involves the final defined benefit pension scheme backed by Rolls-Royce in the UK. The buy-in includes the transfer of assets in exchange for an insurance arrangement that offsets liabilities. It has been secured in anticipation of a full \u2018buy-out\u2019 \u2013 in which liabilities and management of benefits are transferred \u2013 of the scheme at a later date. The company\u2019s UK defined contribution scheme, the Rolls-Royce Retirement Savings Trust, is unaffected.<\/p>\n","protected":false},"excerpt":{"rendered":"Rolls-Royce Holdings plc (LSE: RR., ADR: RYCEY) today announces that the trustee of the Rolls-Royce UK Pension Fund…\n","protected":false},"author":2,"featured_media":35511,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-61653","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/61653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=61653"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/61653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/35511"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=61653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=61653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=61653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}