Rolls-Royce Sells UK Pension Fund to PIC in £4.3 Billion ($5.8 Billion) Deal Covering 36,000 Members

Rolls-Royce has completed the sale of its UK pension fund to the Pension Insurance Corporation (PIC) in a deal valued at £4.3 billion ($5.8 billion). This transaction transfers approximately £4 billion in pension liabilities off Rolls-Royce's balance sheet, reducing the aircraft engine maker's financial burden. The deal secures the future of around 36,000 members of the pension scheme and represents a significant milestone in pension security. The agreement with PIC was finalized after Rolls-Royce had been nearing a deal to offload these liabilities to an insurer.